I generally don't like to use terms like "dumb" or "stupid" in political discussions; mostly it's used to avoid engaging with the argument. This argument student loans is one I understand, though, and
this is just stupid.
The way student loans work in America since the Obama administration is that the Federal Government 'owns' the debt, and it allows you to pay it off according to an income-based formula that is meant to determine what you can afford. You pay a percentage of your income in other words, not anything like what it would take to pay off the debt on the 20 year timeline; after 20 years, the government will write the rest of it off. If you work for a 'public service' like the Federal government itself, or any government or nonprofit, it's 10 years.
So a $10,000 forgiveness does nothing. Since you're already not paying off the interest -- you're paying much less than it would take to clear the debt -- the $10,000 is going to come right back over time anyway. Yet you won't have to pay it off, not before this decision and not after. In 20 years -- 240 monthly payments -- you can walk away from it, or only 120 if you work for an approved industry.
If you really want to help borrowers, either forgive the whole thing or else let for-profit employees off after 10 years too. (It's their employer that is for-profit or nonprofit, after all: there's no moral difference in the employees.) If you want the money, you have to change the payment schedule to a level that many people simply can't afford; then you still won't get the money, but you will at least get to seize whatever they have. If you want just more money, eliminate the nonprofit distinction the other way and make those employees pay for 20 years instead of 10.
What's going on here doesn't make any actual sense at all. It's not clear who they're hoping to impress: hopefully the people who went to college to incur the debt have enough math to see this is a bunch of bull.