One of the underappreciated parts of student loans is that every debt is someone else's financial asset, and this usually nets out to financing the transfer of

One of the underappreciated parts of student loans is that every debt is someone else's financial asset, and this usually nets out to financing the transfer of real goods and services to retirees. If you stop squeezing young adults, you have to squeeze the retirees that own their assets. Inflation, asset prices going down, pension benefits reduced, tax increases, etc - reducing student loan amounts doesn't affect the real economy, so easing up on material constraints means more real consumption there instead of elsewhere.