Elected officials should show some restraint in encouraging people to walk away from their college loans. Buying college voters with promises of loan forgiveness or free college is no way to teach the fiscal discipline or responsibilities that college graduates should possess. This is unfair to taxpayers.
Today, most likely voters support student debt cancellation, even those who don't have student debt themselves. If Biden honors his campaign promise with a measure of student debt cancellation in the coming weeks, then a burden will be lifted from millions of hard-working Americans.
There is a 45% chance that the US government will forgive $10,000 of federal student loans per person before 2024, according to the Metaculus prediction community.