Amazing study following a randomized group of people who got their student loans discharged. Consistent with the idea of serious liquidity and debt overhang, their overall defaults go down, they are more likely to move and change jobs. /1 (h/t )
Here's a study using a court judgements throwing out attempts to collect on student debt as a natural experiment to test the effects of debt relief. The results are pretty dramatic.
The effects of cancelling student debt, US evidence