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The proposal must add two parts:
1) Support tax breaks to people who already paid. That will lower resentment, increase support, and make it fairer for everyone. It will also stimulate the economy. #10 on the FAQs is not the best approach.
2) Support INVESTMENT in higher education for everyone just like primary and secondary school. That way the problem will not continue.
Advocate tax on the 1% rich to make up any shortfall. They can afford it.
Stop viewing education as a "consumer" issue but as a RIGHT and a public good. The entire consumerism view is wrong when one realizes that private banks and private universities are getting public subsidies for their operations. Even public schools have effectively become private due to the withdrawal of investment.
Otherwise the proposal is on the right track. Total cancellation of all student loans. Jubilee.