The government is in the business of making all kinds of economic concessions to stimulate the economy. Child credit, child care credits, credits for putting in solar or new windows, electric cars, even getting to deduct mortgage interest was begun as an economic stimulus after WWII. Pell grants stimulate the economy.
The stimulus checks went to many people to whom they were windfalls to stimulate the economy. Most did spend them on things like groceries, gas, eating out, but some did just save the money. Student loan forgiveness would be similar as most would use that extra $300/mo to buy houses and cars and clothing, but some would save and that doesn’t do much for the GDP.
Sometimes a group of taxpayers gets a reward others don’t. Years ago I got a $5k adoption credit. I was pretty happy with that credit – until the next year when it jumped to $10k. And the year after that when it became fully refundable! Yup, some people were luckier than me, but I was still grateful for the amount I did get. I wouldn’t change when I did my adoption but for the tax credit my timing was a little off. That’s life.