This is a good gesture for the Biden`s administration. It is far better than forgiving those who have loothed the public wealth. Some government have mistaken priority and they decide on policies that won't add value to the economy. This loan that has been forgiven is still going to be channeled into the economy one way or the other because those students are going to be graduates that will contribute to the economy and those who want to start up a small business can use the money that would have been used to repay the loan to start the business.

It is a good decision but may not be unconnected with the forthcoming election because politicians know that the largest voting population is the youth and so they focus to win them over during electioneering season.