Biden’s Plan For Student Debt Relief May Cost Billions For Federal Government

President Biden’s plan for canceling student debt will cost the federal government billions. The congressional budget office estimated this plan will cost $400 billion over the next 30 years. The white house defends the plan stating it will provide relief to struggling borrowers. They argued the plan will allow them to start businesses, buy homes, or just pay bills. The administration plans to release their own estimated detailed cost at a later date.