Saturday's episode of the Slate Money podcast led off with a discussion of President Biden's recent decision to grant partial debt relief to some student loan borrowers, provided they are earning below a certain income threshold. The chief point they wanted to stress was that—however much the policy may seem to benefit a relatively privileged subset of the community (we live, after all, in a society in which only about half of the people will ever attend any amount of college)—we shouldn't be deluded into thinking this partial debt cancellation is a giveaway to the upper-middle class. To the contrary, the hosts emphasized, many of the people who will benefit most from the policy are those who enrolled in a program and never completed it—ending up with debt but no degree to reward them for the expense—and those graduating into low-wage professions.
The policy is manifestly not, therefore, what it is often portrayed to be in the right-wing imaginary: a free gift of taxpayer money to spoiled kids with professional parents who saddled themselves voluntarily with debt in order to get MFAs. Such a person, the Slate Money hosts emphasized, is as much a fictitious bogey of right-wing punditry as the hypothetical food stamps recipients buying lobster and steak in the check-out line. It is, that is to say, a figment used to mine the rich vein of social resentment upon which conservative rhetoric feeds, not an accurate picture of the debt relief policy's typical beneficiary.