And it is dopey comments like this - fully liberated from logic or even a basic understanding of the topic at hand - that forced me to mute your account originally, and reinforces that I have made the right decision. Good lord, man. Think for even half a second before posting whatever flows out of your head. (It's not "extra money". Nobody has been - or will be - given a check. Their student loans will be simply reduced by $10k.)
It is extra money 6% (actual rate might be higher) of 10k is 600 annually or about the same as the stimulus check. There is a bit of an assumption that the amount was being paid which in some cases it wasn’t but it’s real money that will go buy groceries, gas or Nikes or PlayStations. It does contribute to inflation as before it was money that was being pulled out of the economy and now it’s available to spend. Inflation is caused by for the most part having more money chasing a fixed number of goods. This will increase the amount of money just not by an immediate 10k but a percentage of it. There is no free lunch.