This question asks for a research essay, which we are not able to provide, as this is a personal task that only you can do. However, we are able to provide some ideas that can help you in this process.
In my essay, I would defend student loans. Student loans are the main way in which most students are able to afford higher education. This is because schools often have very high fees that are difficult for students to afford. If we were to get rid of student loans, this burden would be transferred unto the students themselves or the parents. This would mean that students would not be able to concentrate solely on their studies, or that parents would carry a heavy financial burden for several years. Moreover, it could also mean that students are simply unable to attend school, and this would limit their opportunities for advancement in the future.