I think we all agree that the moralistic arguments against student loan forgiveness are bullshit, as are the fake concerns about how "regressive" it would be. But I just had a series of discouraging thoughts about what it could mean for the higher ed system as a whole....

With no plan to contain costs going forward, a one-off debt forgiveness would encourage students to take on even more debt (in the expectation of future forgiveness), allowing institutions to raise tuition even further.

The federal government would risk putting itself on the hook for whatever schools decided to charge, in a time when many institutions are taking advantage of a world-historical crisis to actively undercut their academic mission.

Rolling forgiveness would be great for individual students, but it would also be great for institutions that make administrators and football coaches into millionaires while professors have to go on food stamps.

So anyway, be mad at me now because my Twitter thread will somehow deprive you personally of student loan forgiveness or something. I can take it.