Should student loan debt be "forgiven"? If so$,$ how would you account for this "forgiveness"? Is this really a "debt forgiveness" or is it a "debt transfer"? Who would bear the burden of this from an accounting perspective? If an individual owes $$20,000$ in student loan debt and President Biden wipes this out, that student would be credited $$20,000$ and would not have to pay it$.$ But where then is the debit entry? You know from your basic course in accounting that we use a double entry accounting system so what are the accounting entries to record this "wonderful forgiveness" or "transfer"?