Student debt cancellation already in focus amid President-elect Biden transition

Biden of course created the problem of mounting student debt when he passed earlier legislation as a Senator that prohibited former Students from discharging the debt via personal bankruptcy. With no vehicle to get rid of the debt, it started to accumulate across the country. This past legislation was in part responsible for Biden getting the nickname in the Senate as Mr. MBNA after the largest banks with student loan debt at the time and the fact he seemed to keep voting for that banks proposals. So now we are using taxpayer money to bail out these loans on the books. What is wrong with that? Well for one, it gets the bankers that extended the loans compleletly off the hook scott free. Secondly, since there was no sanction for the loans about to be forgiven, lenders will continue to lend to future students knowing the Feds will bail them out without them taking any kind of hit. So the loans will once again accumulate after this forgiveness of the first 10,000. In short it does nothing to address the root cause of the student debt accumulation issue and only temporarily reduces the amount on the books. For the life of me, I cannot see the logic behind how that is an economic stimulus in anyway versus just throwing away money. Does anyone out there see this differently?