Mitt Romney Is Kinda Stupid

[Ranjr]

My argument was that it's a financial incentive. And that "student" is just a way to make it justifiable. You can pay your private car loan with federal money if they send it to you directly—that's what people did with their stimulus checks.

That's what some people did.  Most of them blew the money on scratch offs and Slim Jims  (<-sarcastic generalization.)  Forgiving debt gives people what they need instead of what they want.

Nevertheless, a lender forgiving debt shouldn't be objectionable.  You make a good point that the extra money will stimulate the economy, perhaps even better than checks.