Biden’s student loan forgiveness program will cost $24 billion a year over next decade -White House

By Thomson Reuters Aug 26, 2022 | 12:34 PM

WASHINGTON (Reuters) – U.S. President Joe Biden’s decision to forgive up to $20,000 in student loan debt will cost the government about $24 billion a year over the next 10 years, Bharat Ramamurti, director of the White House National Economic Council, said on Friday.

(Reporting By Alexandra Alper and Jarrett Renshaw; editing by Jonathan Oatis)