The Democratic institution would never stand for giving collected funds to anyone but rich people.
It would make a good strategy for the PSL though. Now that they've gotten 0.1% of the vote, instead of running a conventional campaign, they could do 20% what they've already been doing, and 80% "this debt has been forgiven of you by the PSL, vote for us" and build a reputation as the people who go around forgiving debt (instead of the people who show up at all the peaceful protests with those yellow-and-black signs).
John Oliver did the biggest debt relief thing ages ago. Just bought loads of abandonded debt for cheap and declared that he wouldn't pursue it. He sucks, but that was pretty cool and funny. Here's the relevant bit
It seems like what's missing in modern remakes is a willingness to try something new and in the present context. But I have a hunch it's less so film makers wanting to and more so studios wanting a guarantee on return.
Good art tends not to work that way. It's always going to involve risk.