Pres. Biden's federal student loan forgiveness plan will cost $400 billion over 10 years, according to a revised estimate this week from the Congressional Budget Office.
President Joe Biden delivers remarks at the National Education Association Headquarters, in Washington, DC, Aug. 23, 2022.will cost $400 billion over 10 years, according to a revised estimate this week from the Congressional Budget Office.
That's a lower number than from one leading outside estimate, but the nonpartisan federal agency's projection drew quick pushback from the White House, which is sensitive to criticism it is growing rather than reducing the government deficit.sent Monday to North Carolina Republicans Sen. Richard Burr and Rep.
The CBO score, which the agency estimates is "highly uncertain" due to components that include projections dependent on future economic conditions and on how future terms of loans might be modified, is slightly less than the University of Pennsylvania's Wharton Business SchoolA student studies in the Rice University Library, August 29, 2022 in Houston, Texas.
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