Well, my wife just got $20k, basically. She'll probably try to give it to her mother. Hopefully the attempt is successful, but I doubt it. At least the debt foregiveness will be an experiment in economic stimulus. Frankly, some of the folks on the receiving end are bad with finances, so on the one hand, you're encouraging bad habits, in a way, but you also know that probably almost every penny will be spent. It's really sad that one of my first reactions is "if people buy up speculative assets, hopefully it's in stocks and bonds instead of crypto". Still, a lotttttttt of it will go towards "real goods". And other debts, which is kinda like "future real goods". But ultimately, the real problem is the cost of secondary education, and instead of trying to solve that problem, we're in the middle of dismantling the public education system.