This is a bank bailout pure and simple. Delaware is known for its banking friendly regulation, and guess which senile crack baby daddy was senator from Delaware. After the COVID lockdowns too many people were forced into cash only odd jobs. In so doing, there was no point for them to pay back the debt and no real recourse for the banks since they couldn't seize the funds. If they really wanted to help with the student debt crises, they'd allow that debt to be discharged in bankruptcy. This would have just as much benefit for the people who really need it while not being a handout to people who don't need it. It would also pressure the schools and the banks to stop allowing six digit loans to student whose major or level of intelligence precludes them ever paying it back.