According to recent projections from the Congressional Budget Office, the cost of the Biden administration’s plan to cancel a sizable chunk of federal student debt will be close to $400 billion. The director of the CBO, Phillip Swagel, predicted that the student loan plan announced by the Biden administration last month will cost about $400 billion but noted that the prediction was “highly uncertain” in a letter to Sen. Richard Burr (R-NC) and Rep. Virginia Foxx (R-NC), the senior Republicans on the Senate and House education committees. The CBO also calculated the cost to the government of the administration’s decision…
This post originally appeared on WayneDupree.com.