Biden Student Loan Forgiveness to Cost Even More Than Estimated

White House / Public Domain

According to the nonpartisan Center for a Responsible Federal Budget, Joe Biden’s student loan forgiveness plan will cost anywhere between $440 and $600 billion over the next ten years.

Breitbart reports:

The group said the “central estimate” for the cost of the package of reforms announced by Biden Wednesday is roughly $500 billion.

That is a substantial increase from the $329 billion estimate of the Penn Wharton Budget Model issued prior to the release of the details of the plan.

The higher price tag follows from Biden announcing a bigger package of debt relief for student loan borrowers. In addition to the $10,000 of relief expected, Biden said his administration will forgive another $10,000 for borrowers who also received Pell grants to assist with college costs.

The Center for a Responsible Federal Budget (CRFB) estimates that the Biden scheme will cancel about $525 billion of student debt. The cost of this to taxpayers, however, is lower than the amount canceled because some of the debt would have been forgiven under other programs or not paid back because of borrower defaults.



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Dan
Dan
1 month ago

Just who the hell is biden reconciling with?

Anthony R Napolillo
Anthony R Napolillo
1 month ago

WTF!!! Who cares? He’s already destroyed the US anyway…Not even God can do anything now. We’re DONE!!!

Babsan
Babsan
1 month ago

Triuple tax the Democrat voters,they are the guilty here

Richard Hennessy
Richard Hennessy
1 month ago

Does Biden really have the authority to spend our tax money contrary to the program as approved by the Congress and signed by the President? If so, the absurd power of the President should be immediately curtailed.

fedup
fedup
1 month ago

This idiot is flushing the USA down the toilet as we Patriots have known and loved

Gus Richards
Gus Richards
1 month ago

When has government spending ever only been what they claim it will be? Sure hope the 200 or so million taxpayers that have to pick up the bill for those 40 million remember this giveaway of their money this November and vote against every democrat running for office.

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