Debt as a palliative?

In this piece, Ben Funnell asserts that debt has been used to assuage the pain that was caused to the lower income groups as their incomes decreased and while they witnessed the higher income groups becoming richer.  This thought is in line with what Rajan spoke in Chicago Booth's convocation address.  BTW, just free wheeling -- Is it the same reason why student activism has vanished from colleges?  Is it because even before students graduate they are sunk in student loans.  Are student loans a good thing then?  Or, there is a better way for public policy to stimulate higher education but not take away the freedom to stand up against poor governance and be passionate for a cause and take the role of activist to bring in change.