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Tags: student loans | biden administration

White House Says Student Loan Forgiveness Plan Will Cost $24 Billion a Year

White House Says Student Loan Forgiveness Plan Will Cost $24 Billion a Year
(Dreamstime)

Thursday, 25 August 2022 10:39 PM EDT

A U.S. plan to forgive $10,000 in student loans for millions of debt-saddled former college students announced this week will cost $24 billion a year assuming that three quarters of those eligible take up the offer, the White House said.

"Assuming that 75% of folks take us on on the President's student loan cancellation plan, and you look at the average cash flow on that, it's going to be about $24 billion per year," White House spokesperson Karine Jean-Pierre told CNN on Thursday.

© 2022 Thomson/Reuters. All rights reserved.


Politics
A U.S. plan to forgive $10,000 in student loans for millions of debt-saddled former college students announced this week will cost $24 billion a year assuming that three quarters of those eligible take up the offer, the White House said.
student loans, biden administration
83
2022-39-25
Thursday, 25 August 2022 10:39 PM
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