Honestly, this decision wouldn't probably impact future college attendees. But, there are other changes coming to federal borrowing that likely will. Income based repayment is being restructured and it's looking pretty good.

However, this will probably hurt the economy. A lot of people are about to hit repayment at a period of high inflation. It's not a great economy. And, if a lot of people decide to ignore their student loan bills a la 2008 financial crisis, were in for a global economic doozy.