I resp disagree on legal grounds. See my legal analysis elsewhere ok?

And moral:

Rich PPP recipients got total cancell for much more, but students have more-than fully repaid taxpayers and this even at illegally-inflated price-gouging levels of tuition:

But as a practical matter, the scam in which our greedy colleges fleece both taxpayers AND students would have lively continued unabated were it not for the kick in the face to innocent, but silent, victims. Now, however, they awoke a sleeping giant. Good luck with that.

Gordon Wayne Watts, Natl Dir, CONTRACT WITH AMERICA: PART II®™, Registered Trademark

The Supreme Court ruling striking down Biden’s loan forgiveness plan echoed many of these same arguments – basically the President cannot forgive loans using the HEROES Act. However, the court clearly said Congress can legislate it. And the court seemed okay with the waiver and pause of interest due to the pandemic. You can read the court ruling yourself.

Correct. That’s the rub; it’s exactly as you say: cancellation of debt is revenue lost, not spending. I add, lost from those who well-strongly overpaid. But, like it or not, the president, any president, is authorised to cancel 100% of federally-held student debt. Anyone who says otherwise either lacks honour or lacks understanding. Or both. GORDON WAYNE WATTS IN FLORIDA