I have a far better idea than cancelling debt. Since, taxpayers have to pay for cancelling debt and many taxpayers oppose it and so forcing them to pay for someone else's debt seems unfair and unequitable...
So, why not create a "non-profit" foundation funded totally by contributions by taxpayers that will be used to pay off student debt. Anyone that wants to contribute can, I would even go so far as to allow a box on the tax return where people could indicate how much they want to contribute and have that added to their taxes.
This would be an honest, transparent way for everyone that supports paying off student debt to do so. Plus, I suspect most people would want this non-profit to be transparent with respect to how they determine which student debts to pay.
If it qualifies as a charitable organization, the contributions would not be tax deductible, but special legislation should provide that since the contributions are not tax deductible, the recipients of debt forgiveness would not have to report it as income.
This is true collective socialism... why force people that don't want in... in. Perhaps those that got their debts forgiven would appreciate it and pay it forward in the future by contributing to the foundation.
Bottom line, at some point, people deserve not to be "taxed" on every "good idea" that some progressive liberal has. The government doesn't really have any money... it simply transfers money from one taxpayer to another. With all this focus on a women's right to her body, and a person's right to their identity, at some point the everyday person deserves a "right to their property".