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Student loan forgiveness?

Was reading something the other day about Biden could possibly forgive/erase student loan debt. And someone in the comment section immediately noted that you would also erase someone's asset as well then. I was like wow, he's right. So what would be the best way for the govt to do this, since they back most of that money, just simply add it to the debt?

They would just write it down. Assets and liabilities both go poof. It's kind of like defaulting on debt. It's a pretty silly idea though. The basic economics don't make sense. The problem with student debt isn't the debt, it's the high cost of college. So, if you forgive all the debt and the cost of college remains high then what will happen? In all likelihood the colleges charge MORE because they have more pricing power and students take on more debt thinking it will be forgiven. So you make the problem better for some people and you make it worse for everyone in the future.

My View On: Student Debt Forgiveness

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