I very much doubted this assertion (Regarding 2/3rds of millennial not having a college degree) given that I'm a millennial who grew up in a relatively rural area where nearly everyone from my high school still either went on to either a technical or 4-year school. The census [1] (Table 1) clearly contradicts my intuition.
I would like to note that while 2/3 of millennials don't have a bachelor's degree, 2/3 of millennials did go to college. The argument, then, that the median person would not benefit, then, is not substantiated given that some college does still afford some cost. I do wonder why 19% of millennials did not complete college to any degree and if less debt would have aided them.
I would like to question a central premise of your comment, which appears to indicate that regressive benefits are less useful than progressive benefits (Please, correct my assertion if you think otherwise, I'm referring to the sentiment of your last two sentences). Given that measures such as these, which would likely allow more students to graduate (I assume a subset of the people who did not finish were for financial reasons) and to better focus on their studies (Working one to two jobs during the school year, like I did, can definitely be a distraction). The investment may be worthwhile in the long run, given that education is linked with earnings (And, by the transitive property, taxes paid). Additionally, it may make careers that are more focused on a "collective good", such as social work and teaching, more tractable (Even though debt forgiveness plans do exist in some situations in these fields).
[1] http://www.census.gov/content/dam/Census/library/publication...