Your premise is wrong. Forgiving debt already in default absolutely costs something. It's not like the debt goes away when a borrower defaults. When they eventu

Your premise is wrong. Forgiving debt already in default absolutely costs something. It's not like the debt goes away when a borrower defaults. When they eventually get a job, they will still have to pay—unless we forgive the debt. Forgiving the debt drives up tuition costs even further by changing the risk calculation for borrowers, making more borrowers willing to borrow ridiculous amounts and therefore increasing the amount of money available to schools. Beyond that, forgiving the debt punishes all of those students who worked hard and sacrificed to pay off their debt, and rewards those who didn't. This is a grossly unfair policy.