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Notes -
I'm opposed to student loan forgiveness, but I'm one of the people who would have benefited from it. So maybe I can provide some light on who would benefit.
I have a bit over $10,000 in student debt that I acquired getting an MBA (I went through undergrad debt free, got the MBA because my work wanted me to and was willing to pay for a third of the cost). My wife has over $20,000 in student loan debt, and started out with almost $80,000 in debt. She got that pursuing a career as a licensed professional (I won't say what profession because I don't really need to, but you need a masters degree, you need to get licensed, and the average one of these makes around $65,000 a year and the really successful ones make about twice that).
Between the two of us we bring in around ~$125,000 per year. So we're not poor by any means. We have a house, two cars, can afford to go on vacation, etc. We will definitely be able to pay off the debt over time without falling into penury. If forgiveness had gone through, the main result would be getting it all paid off faster so we could free up that money for other expenses: savings, home improvements, luxuries, that sort of thing.
I think our case isn't that unusual. There are a lot of people who, like my wife, paid way too much for a degree that gets them an income well above the median.
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