News and Opinion: September 26, 2022. Student Loan Forgiveness Program Will Cost US$ 400 Billion, More Than Expected

The Congressional Budget Office (CBO) has estimated that the student loan forgiveness plan will cost more than US$ 400 billion over 3 decades. This estimate is higher than the original calculation of US$ 300 billion.

This could be considered the most costly executive action in history. Arguably the plan is unfair to those students who paid off their debt and to those citizens who never went to college.

For further information, read this article

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.