The Odds of This $10k College Loan Credit?

 First, it's chatter only at this point. 

Second, it'd require Senate/House discussions and the earliest that this might occur....spring of 2022.

Third, my gut tells me that it won't be $10k forgiven....it'll be worked up into a $10k tax credit that you can take off in multiple years (say $3k this year, $2k next year, and $5k the third year).  So you'd probably have to pay taxes of some type, and simply take this credit.

Fourth, my gut also tells me that it'll have some limit tied into it....example: if you owe less than $20k....you probably won't see any credit at all.  

Fifth, and most importantly....for all of these idiots with $70k, $100k, or $150k in college loan debt....$10k is crap and marginally resolves your mess.  So trying to excite yourself is purely a waste of time.  Biden's effort will take 15 minutes of pain off your life, and you can go right back to work tomorrow....working on the remaining $60k.

Final word?  For all of those people who wrapped up college with zero debt, you will remember this college loan credit day with extreme negativity.  For those who got ahead in life without a college degree?  It'll be viewed for years as some act of stupidity.