I read maybe a quarter of the paper and I guess I'm saying both.

It's robbing Peter to pay Paul. Someone with student debt gets relief and greater spending capacity and everyone else just get some more national debt and higher interest rates.

It is all upside for one party and all downside for the other. As the paper states, GDP goes up, but less than the total cost over a 10 year horizon.

Forgiving 1.4 Trillion debt is predicted "Over the 10-year forecast, the policy generates between $861 billion and $1,083 billion in real GDP.

Now GDP doesn't equal federal revenue so you are really looking at adding $1.4T debt for a fraction of $1T in returns.

To address these other concerns, checkout out podcasts like pitchfork economics or freakanonics. There’s no reason to think interest would go up. That’s just concern trolling from republicans

It says so in the paper you have been linking everywhere