I took a shot at reading through it, and I relatively suck when it comes to figuring this type of shit out. But it seems to me that, in laymans terms, that basics of this plan is that, people are not being forgiven any of the amount they borrowed, they're going to pay back what they borrowed, many will just not being paying as much more in interest and fees as a lot of us have paid in the past.
Can someone who does understand this, and doesn't have a defiant bias one way or the other left or right, tell me if that's in the ballpark, and explain what I'm missing?