Yes, actually. If people were YOLOing away their savings on DOGE and meme stocks and the government picked up the tab, but the responsible passive investors like me got no assistance because I didn't experience any losses, I'd be pretty mad.
My assumption is that the debt holders would be the ones losing. I don't know about you, but I don't hold any person's medical or education debt. In my estimation, these are ultimately all held by the rich and powerful fat cats- owners of banks, etc.
We'd be taking things from the bucket of "the people who borrowed have to pay it back" and putting it into the bucket of "we all have to pay it back through increased taxes."
And student loans can already be put on thirty year plan, or setup for income based repayment. No one is starving because of their student loans, they're just having to purchase a house a little later in life than if they didn't borrow a bunch of money.
If cancelling student debt solves real problems for the population on average, but makes a few idiots multimillionaires by accident... I'm all for it.