I may be a pessimist, but tackling the systemic issues that make loaning a bunch of money to an HBCU student much riskier than loaning a bunch of money to a Stanford student isn't what would happen. The demand would be equal outcomes (loans to all) without addressing why there's any disparity to begin with, which would lead to demands of some kind of guarantee the lender wouldn't be screwed over, which pretty much leads us back to where we are. Defaulting on a loan if you don't matriculate is a rational choice, especially since by definition those declaring bankruptcy aren't sacrificing much (they are almost certainly not in a position where bankruptcy would hugely impact their life in their 20's).
There would be pamphlets published on how to shed this debt. It would be a disaster for the lenders. Purely public funding probably can't work either, because to control costs you'd need to ensure students are prepared for higher education (likely via testing like everyone else in the world), and tests are already politically problematic in the United States.
