Student Debt Forgiveness, Can We Afford it?

I saw several news stories indicating that President Biden wants the federal government to pay/forgive $10,000 towards many Americans student debts to the tune of about 300 billion dollars. We really cannot afford to do this. Uncle Sam's wallet is empty, and we are maxing out our credit cards. The website I saw indicated students owe approximately 1.3 trillion dollars to the federal government from student loans. A search of the internet indicates that our government brings in about 4 trillion dollars annually, but typically spends about 5 trillion dollars annually. This means we/our government has to borrow about 1 trillion more dollars every year. (During the Covid time frame we actually spent about 7 trillion dollars annually) The internet indicates we now owe foreign investors (Japan and China are the biggest creditors) almost 30 trillion dollars. We just passed another bill (healthcare/tax/climate bill) that would increase our debt by approximately 500 billion dollars. We are already paying about 500 billion dollars annually just in interest. In summary, if we do start paying $10,000 towards many Americans student debt, we are going to owe our foreign investors (stop and do the math: 1 trillion dollars more then we bring in annually for normal operating costs? + 500 billion dollars for the new bill + 300 billion dollars for student debt + 30 trillion dollars already owed) almost 32 trillion dollars.