So I had a conversation with my dad who was asking about the constitutionality of student loan forgiveness since congress allocates money. I brought up that while they are companies student loans are effectively nationalized as only the government really provides them. In essence they are not spending it, just choosing not to collect it. Up until I said this I was assuming the student loan bailout would worsen inflation, but that money was already spent, so no money is going to be printed for this . No new debt incurred. That already happened. Am I missing something? (I guess expected interest collection and a theoretical collection of that debt worsens our economic picture, but not as much as I was thinking...)