Thinking the government shouldn't be involved as a matter of principle is fine, but in terms of policy recommendations, you have to balance that against the evident dislike of the current situation by substantial parts of the voting public.

If you set up the situation so that students can get themselves into crippling debt due to the market, you should realistically recognize that this might result in people with different underlying assumptions deciding that those students/former-students should get bailed out. So maybe it's better to just figure out ways to preempt the problem, which leaving it to the market (often a fairly abusive place for the less-informed or less-wealthy) doesn't really do.

Making them dischargable in bankruptcy would be a very useful change here, but where I disagree is that the market would be good at usefully signalling "this is a valuable degree" or "this isn't a valuable degree."