The beneficiary of recently graduated students are the companies that hire inexperienced but educated people at a lower cost overall than an experienced and educated person.
Offer a partial tax exemption for companies who are willing to pay off the new employee’s student loans. Restrict it to $50,000 per person and allow the exemption over 5 years per person. This eliminates expectations of a government bailout, puts the beneficiary in the position to pay down the tuition, and encourages students to obtain degrees that companies are looking for.