CBO: White House plan to relieve student loan debt costs $400 billion
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Leaning Left22Leaning Right22Center59Last UpdatedBias Distribution57% Center
Biden administration previously estimated the plan would cost about $24 billion a year over the next 10 years. Other estimates put the total cost at $500 billion or more over the decade. The White House defended the plan, saying it will provide relief to struggling borrowers, allowing them to start businesses, buy homes or just pay their bills.
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