There's another disconnect here: you're treating contracts as a moral imperative, rather than as a civil agreement with failure clauses to be rationally considered. The government does the latter; why should an individual who makes a contract with the government treat it differently?
The fact that the promise was made to the taxpayers doesn't make it honorable to break one's word.
It's also a major insult to every person who worked hard and paid back their loan.
This forgiveness program is a classic "moral hazard".