Yes, other forms of debt are even more pernicious than student loan debt. That doesn’t mean there isn’t a student loan debt crisis, or that student loan debt shouldn’t be cancelled.

There is a much broader crisis of private debt which has been accumulating for several decades. Student loan debt cancellation is much simpler than dealing with, say, medical debt, because a substantial portion of student loans are payable to the government rather than a private entity like a hospital. The Treasury could settle accounts with the remaining private student loan companies for full cancellation.