The general consensus among recent college graduates is that it is stupid to pay-down student loans because Biden is going to forgive them.
My thoughts take a different track.
First of all, I don't know that Biden has the authority to "forgive" student loans. I believe that would trigger government counter-party agreements that would force the government to make the loaners "whole". That strikes me as a budget issue which is supposed to come from Congress.
The other aspect is that I hear $10k as the amount Biden proposes forgiving. If the average loan for a recent graduate is roughly $30k, then that still leaves $20k to pay down.
If the graduate waits for the interest and mandatory payments to kick in, then at 6% the $30k generates $150 a month and a typical, $200/month payment only only sends $50 to pay-down the principal.
IF the graduate could find an investment that guaranteed more than a 6% return then they could park the money there, but absent that, it makes sense to
A.) Not carry a credit card balance
B.) Make the monthly student loan payment even if they believe Biden will deliver on the $10k forgiveness.