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https://www.wsj.com/articles/biden-student-loan-forgiveness-income-based-repayment-plan-cbo-cost-estimate-education-department-1788e8fb
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The Supreme Court last month appeared likely to strike down President Biden’s $400 billion student loan write-down. Hate to break the news, but the Administration’s other executive actions could cost even more, judging from a new Congressional Budget Office report.
In addition to waiving $10,000 to $20,000 in debt for nearly all borrowers, the Education Department recently proposed a rule sweetening the Obama income-based repayment plans. Borrowers currently can cap their monthly payments at 10% of discretionary income and have their remaining debt forgiven after 10 to 20 years.
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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.
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