I don't agree with going on strike and just not paying your loans deliberately, but as I've been arguing in a related thread on the Antimustachian Wall of Shame/Comedy, I do think that you're right -- there needs to be an option for forbearance/forgiveness for students of sham for-profit "schools." Those "schools" also need to be shut down and outlawed, but I digress...
And the student loan/financial aid/tuition/university fiscal policy system in general needs a massive overhaul.
My flagship state university's budget is being slashed by $40 million (3%) this coming fiscal year, on top of the same size cut last year. Our President keeps hiring VP-level administrative people with ambiguous job titles at six figure salaries. I work in admin between classes, and I personally am aware of several department-level admin people who get paid amazing full time salaries for maybe 15 hrs/week of actual work. Plus, there are the professors who have been tenured since the 70s and 80s (back when it was WAY easier to get) and haven't pulled in any research grants (basic sciences dept, so this is very important usually) or done anything but teach their two classes per semester for 25+ years...they're getting paid BIG BUCKS too.
It's kind of like Jenga...the blocks have slowly been eroded over the years and now the ivory tower is balancing on students, overworked and underpaid adjuncts, and overworked and underpaid early-career researchers.
I think it's going to topple within in the next 20 years and kind of anticipate a massive overhaul of the student loan repayment system. Not that I'm relying on forgiveness or anything, I'll still be paying my loans in full. But something's got to give and the general public is becoming increasingly aware of the bullshit.