Which is precisely what's wrong with neo-liberalism these days. A massive lack of rationality.

Cancelling college debt is about as screwed up an idea as one can come up with. It rewards exactly the wrong behavior, and is subsidized by those most deserving of a reward. Those who rack up unsustainable debt, picking expensive schools to earn degrees the market doesn't value, then go on to not repay those debts stand to gain the most from this. Meanwhile, those who take personal responsibility and sacrifice to make their college education sustainable — who went to cheaper colleges, who worked their way through it, who sacrificed their lifestyle post-graduation to get their debts paid off — are subsidizing the cost of that giveaway. It's a massive transfer of wealth from the responsible to the irresponsible.