CBO: White House plan to cancel student loan debt costs $400 billion

From The Washington Post: “A White House plan to cancel student loan debt for tens of millions of Americans will cost roughly $400 billion, according to a new estimate by the nonpartisan Congressional Budget Office, increasing federal budget deficits over the next decade and beyond. The administration’s plan to temporarily extend an existing pause on student loan payments would further increase the cost, the CBO found, by roughly $20 billion. … Delivered Monday in a letter to lawmakers, the estimate was requested by Republican leaders of the House and Senate education committees.”

View the full article from The Washington Post.

Weekly Education Email Newsletter

Our weekly email delivers all the latest news from the world of higher education direct to your inbox.