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How does everyone spin what happened today?

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They will be focused on how susceptible you may be to being paid off by foreign actors due to a need to pay off debt. If you have figured your sh*t out and got your debt in order you should be fine. Focus on your current financial situation and how you’re in a good place now.
Trust me, they don’t care about student loans. I started at the bottom as a GS5 with over $180,000 in student loans, worked my way to a GS11 with the same amount! They don’t care, you just have to disclose it. If you don’t then you have issues.
What kind of student loan issues are you having OP? When I got my security clearance I had a past unpaid medical bill that I didn't even know about. They made me pay it before I could move forward in the hiring process. If you have outstanding bills you will have to make them current or show you hae a payment plan set up.
Just be honest. They know your situation anyway.
What they really want to know is how likely you are to hide financial issues from them or hide someone offering you a bribe.
Those are things you will be required to tell them as soon as they occur.
The higher your clearance the more they need to know, like if you get a speeding fine.
Depends on the position. My credit is in the dumpster and I have student loan issues and it didn't flag at all.
You should check to see if you qualify for the "Fresh Start" initiative:
https://studentaid.gov/manage-loans/default/get-out