The pandemic caused serious financial burden to the average American, and the only reason why it wasn't significantly worse for millions of people is because the federal government paused interest and repayment deadlines for federal student loans.

Loan forgiveness is another method of providing relief for people whose economic means took a hit as a result of the pandemic, and is something a lot of people were counting on the day it was announced. If this is unconstitutional, then so were paycheck protection program (PPP) loans that were forgiven by the Fed due to the pandemic as well. The only difference between the two is that the GOP likes big business owners who benefitted from PPP loans (and several GOP politicians and their families took out millions in PPP loans that were forgiven) and they don't give a shit about college students who aren't likely to vote red.

This is just another way the conservatives are "sticking it to the libs", so they have something to brag about during next year's election.