…Which I’m not terribly against. I’m rhetorically moved by this headline, for instance. https://www.nytimes.com/2022/05/21/opinion/cancel-student-loan-debt.html I feel like the whole thing got very scammy over two generations.
But anyway, the pedantic point. On loan forgiveness as "inflation", like as explained here: https://www.nationalreview.com/corner/joe-bidens-10000-student-loan-handout-would-be-inflationary/
NR is wrong. It’s not going to be inflationary cuz: Biden is only going to forgive DoEd federally held student loans, and these have all been in COVID deferment since 2020. Those payment obligations were already removed from the economy. You don’t exacerbate inflation by changing their non-payment status from one to another.
Private loans never went out of repayment. My spousal unit took a private loan and a govt loan for some trade school a few years ago. We have a manageable 4 figure loan that went into automatic COVID deferment. The other same size loan, the "private" one, we never stopped paying. It might be on COVID 0% interest though, IDK… haven’t checked, it’s on auto-pay.
Those DoEd loans… the political implication for the Dems is perhaps better expressed as the blowback of those coming out of deferment and people having to pay again what with a platform plank of loan forgiveness. I kinda doubt we ever pay again on that little DoEd loan we have, that’s the kind of thing that goes away with the Biden forgiveness scheme when it happens.