There's no such thing as "debt forgiveness" or "loan forgiveness" or "debt cancellation"... these are all just polite fictions to help buy votes.
...That debt, was at one point real money, paid to real businesses (and yes, colleges and universities absolutely ARE businesses as much as they like to pretend otherwise), and spent on real salaries and facilities etc...
...And real money paid, means real debits and liabilities on the balance sheet. They can't just be eliminated with the wave of a wand, or the stroke of a pen.
A politician can't just say "this debt doesn't exist anymore". Period.
What they're really doing is transferring the liability on the balance sheet from the borrower, to the underwriter. No, not to the lender... To the underwriter. That's who actually provides the money to the lender to make the loans.
You might not understand who the ultimate underwriter of government liabilities is... Particularly if you're economically illiterate enough, or so subject to magical thinking, that you support loan "cancellation" or "forgiveness" of debt.
It's the American tax and fee payers who get stuck with the bill... 76 percent of whom, did not graduate from college, and 64 percent didn't attend college at all, and don't have any student loans to be "forgiven" or "cancelled".
... Because somehow that's not immoral and unethical?
All this is, is a blatantly transparent attempt to buy the votes of younger voters; who while they aren't particularly looking to vote Republican, don't much want to vote Democrat right now either and, would rather stay home.
Importantly, it's also effectively a huge crutch to the failing university systems around the country, and the academics and administrators employed by such... Almost all of whom reliably vote Democrat, and act as an unofficial propaganda and marketing wing of the Democratic party to keep indoctrinating young people and convincing everyone else, to keep voting Democrat.
... And the 64 percent who didn't attend college, know it very well... And the between 10% and 15% who DID have student loans but who paid them off as agreed, know it even better...
