Why, the taxpayers pay, of course, just like they directly or indirectly pay everything the government does. From SchiffGold and schiffgold.com:
Student loan forgiveness has been in the news lately. There are a number of different plans being floated, from blanket debt repudiation up to various amounts, to more limited income-based schemes. But nobody ever talks about a key question: who is going to pay for it?
Well, you will.
I think most Americans think Joe Biden or Congress can just wave some kind of magic wand and student loan debt will just disappear. Poof! No harm, no foul. In fact, I think a lot of people believe student loan forgiveness will stick it to the evil banks who lent out all of that money.
But it doesn’t work that way.

Children are ignorant, but not stupid; small, but not insignificant. And while the role they are able to play in the world is necessarily limited, it need not and should not be zero.


