National Review "An eye-popping analysis just released by Penn-Wharton:
President Biden’s new student loan forgiveness plan includes three major components. We estimate that debt cancellation alone will cost up to $519 billion, with about 75% of the benefit accruing to households making $88,000 or less. Loan forbearance will cost another $16 billion. The new income-driven repayment (IDR) program would cost another $70 billion, increasing the total plan cost to $605 billion under strict “static” assumptions. However, depending on future IDR program details to be released and potential behavioral (i.e., “non-static”) changes, total plan costs could exceed $1 trillion.
"A trillion dollars is an enormous sum of money — it’s more than $6,000 per taxpayer.". . .
Fox News contributor Jones took to Twitter on August 24th regarding Biden’s proposed debt cancellation effort, writing, “I cannot believe I gave two legs for my tuition. What a dope I am. Ooh-rah!”
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