Posted on 09/26/2022 1:15:26 PM PDT by ChicagoConservative27
The Biden administration’s sweeping effort to provide widespread student loan forgiveness for some Americans will cost about $400 billion, according to new reporting by Congress’ nonpartisan budget scorekeeper.
The estimate applies to the plan Biden announced last month to forgive $10,000 in federal student loan debt for borrowers earning under $125,000, and $20,000 for borrowers who received Pell Grants.
The CBO said 43 million borrowers shared $1.6 trillion in federal student loan debt, as of June 30. Under Biden’s plan, about $430 billion of that debt will be wiped out, the reporting shows.
The CBO also estimated the costs for the Biden administration’s recent renewal of the moratorium on federal student loan payments and interest accrual, which had been set to lapse at the end of August.
(Excerpt) Read more at thehill.com ...
Ukraine is nothing more than a HUGE money laundering scheme, heck I havent seen any evidence they are still even fighting..its ALL about the money, for the big guy, for his family, for Dem and GOP politicians
He should just give everybody a million dollars so we can all be millionaires.
Until it costs even more.
We all now have student loan debt.
They don’t need no stinkin’ enumerated powers!
A slap in the face to hard working Americans who scrimped and saved to send their children or themselves through collage. Transfer of wealth from the workers to the work-nots.
.
Spending isn’t going to slow, that’s the entire agenda.
Ukraine - turbo charge the printing press.
They are going to send $$ to Europe to help their economies with Energy costs.
And the Domestic agenda is to shoot money into the Cities. Bathe the Dem Mayors with money to waste on failed progressive giveaways.
.
This really ticks me off to no end because nothing is said about the tuition price gouging.
Only in America can the rich go to universities and pass their loans onto the middle class.
That little commie bitch Biden. My grandkids are going to have to pay for this political stunt used for the commie RATS to get votes.
No problem, heck we can take that out of the ‘save Ukraine’ fund that apparently has no bottom to it.
Those great Gender Studies degrees are going to help this country so much!
Yeah, right. It’ll START at $1 trillion and go north from there.
Every single government estimate of what something will “cost” in my lifetime has been lowballed by 2X to 3X. Plus, these things metastasize and grow and grow and grow and grow.
Meanwhile, we are exporting a HUGE amount of natural gas to Europe sending our prices into the stratosphere.
Multiply the CBO number by 3 and you should be close.
And its illegal and unconstitutional.
That’s just on the surface, incidentals will triple it.
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