Could be that on further review, he does not have the authority to do this by executive action. More than 85% of outstanding student loan debt is federally guaranteed, meaning that when you forgive $1 you transfer $1 to the taxpayers (or increase deficit spending in the short run, so the taxpayers end up paying more than a dollar in the long run.) If he really made the remark with the example of Penn in it - I guess it just goes to show that in his degenerative senility he gets to a point where his short term recall of talking points is so bad he forgets them and only has some common sense to rely on. That will go soon as the disease progresses. But his comment involving Penn was possibly the only thing he has uttered as President that I might agree with.
Ah, so most of these loans are from irresponsible people, and 66% of debt is held liberal women, who got worthless degrees. Now they expect people who did NOT get a college degree to pay that off? Could not come up with a more privelaged ripoff of society if one tried.