All the moochers are going to use it so you might as well do the same. You have to have federally issued student loans, not private ones, and it is $20k if you ever got a Pell grant or $10k otherwise. Parents who took out student loans to help a child can also get $20k.
https://www.cnn.com/2022/10/14/politics/student-loan-forgiveness-beta-site/index.html
After inflation, will it buy a bottle of ketchup?
It is just a write down on debt if someone has the specific type of Federally issued student loans allowed.