Isn’t this, at least partly (I think mostly) about personal responsibility? You borrowed, you pay it. If you happen to want a nicer apartment or car, too bad. That can wait. Pay it. That’s what being an adult is all about.
Reminds me of the financial crisis when many stopped paying their mortgages (not talking about those that lost their jobs and couldn’t find work) on investment properties or even their primary residence because they were upside down. So many in my area walked away via short sale without thinking twice. They could still pay but didn’t want to because the value of the RE was declining. So, too bad! Risk reward. If the value was appreciating the bank doesn’t get to reevaluate the loan and charge more. If you lose money in the stock market you don’t get to have it back.
The monthly cost may be the largest expense after their housing (or even more). So, pay it. Rice and beans for as long as it takes. Nobody forces anyone to take a student loan.