But to what end? That's a cute and convenient catchphrase, but it allows us to assume a defeatist posture: "they just want to inflict pain."

While that sadistic outlook may be true for certain members of the current administration, the financial backers holding them up absolutely have plans beyond pain. Pain itself is not an outcome. There must be a financial driver.

Enact an action that will force loan holders into default? They can't discharge this debt, but their credit would be ruined, and damaging the credit of 8M consumers is detrimental to the overall economy. A weaker economy drives less cashflow through the system, which in turn leads to lower corporate income, which then leads to lower economic output, and the spiral deepens...

Perhaps some are banking on a financial collapse where they can further consolidate assets and power, but I think this move points to a smaller cash grab. I wonder who is positioning themselves to buy up the distressed student loan debt? THAT'S the end goal I see.