Biden's student loan debt 'forgiveness' plan could add up to $750 billion to national deficit: Report

TheBlaze— The Biden administration's latest plan to wipe out federal student loan debt for millions of borrowers could add up to $750 billion to the national deficit, according to a Tuesday report from the Committee for a Responsible Federal Budget.So far, the White House has announced $150 billion in so-called student loan "forgiveness" programs over the last year following the Supreme Court's June decision to reject unilateral loan cancellations. The previously rejected program would have wiped out $430...

Americans for Tax Reforms—Biden’s Student Loan Cancellation Plan Will Only Worsen a Larger Problem in Higher Education. Last week, President Biden visited Madison, Wisconsin where he announced new details for his student debt cancellation plan. While this initiative promises immediate short-term financial relief, it avoids addressing the deeper systemic issues plaguing American higher education. “Starting this fall we plan to deliver up to $20,000 in interest relief to over 20 million borrowers […]

CNBC—Here's why Biden administration believes new student loan forgiveness plan will survive legal challenges. After the Supreme Court blocked President Joe Biden's first plan to forgive student debt, his administration set out to create a more viable relief package.

CNBC—As more borrowers qualify for student loan forgiveness, incoming college freshmen are set to rack up $37,000 in new debt, report finds. Most families take out student loans to cover the rising cost of college. A new report found that incoming freshmen may have $37,000 in debt by graduation.