It's a multi layered problem, and yes low wages for college graduates are a part of it. The other part of it is that the government has not kept in check the higher education industry's runaway tuition increases in this country. So, since the government played a part in letting things spiral out of control and letting things get to the level they are on now, the government should at least partly make it right.
But no matter what is done conservatives will whine about it.
Forgive part of the education loan? Whaaaat? This is America, this isn't socialism! You borrow you pay for it pal!
Put a cap on tuition? Whaaaat how dare you stifle free market enterprise?
Increase wages? Whaaaat? What will the poor corporations do? Think of the "job creators"!
And it's always the condescending boomers who already got theirs and now dick around, waiting for death with a fat 401k account and their nuts in the shade who think they have the solution.