It is implicitly true. There used to be an informal social contract that the dollar had value, that the government would protect this value, and that there would be a free market that would provide a time value of money.
Governments, businesses, individuals and reckless borrowers of all stripes - not just students - have been massively rewarded by our current policies from both the left and the right where there is no longer accountability. We make money free so the market doesn't crash. This is so sad and leads to the cynicism and distrust so many of us have towards our institutions today.
Because no matter how much the dollar depreciates, the amount of debt itself always increases, and the actual dollar amount of the debt is what people pay. The fact that $50,000 in debt is worth 10% less than $50,000 x years ago does not mean $5,000 of that debt was "forgiven."
And even if that were the case, then interest on that debt would easily cancel the effect out, since interest far outstrips inflation on many student loans.
Arguing that student loans are "forgiven" and that no action needs to be taken because deflation is solving the problem, despite the crushing weight of that debt on so many borrowers even when they're trying to work it off, is twisted logic.
> actual dollar amount of the debt is what people pay
Exactly right! A loan is a time capsule of prices. Wouldn't you rather buy a house 30 years ago than right now?
> interest far outstrips inflation on many student loans
Maybe on some, but not on the federally subsidized student loans we are talking about here. My interest is something like 2.25% (not including the 2 years payments have been frozen). Even when inflation was pretty stagnant, you would be hard pressed to find many years below that.
Consider an extreme example. You take out a $300,000 loan to buy a house. The next day, there's suddenly hyperinflation and now $300,000 is the average price of a meal, or less than most people earn in an hour. You basically got a free house.
No matter how many threads you say this in, it isn't going to be true.