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Families making over $300,000 are biggest recipients of Biden student loan relief

EverettChrisEverettChris Member Posts: 2,669
edited April 17 in Tug Tavern

Helping the little guy as always. More available funds for these debt dodgers to donate to Democrats, however.

President Biden’s latest student loan cancellation plans will increase the total cost to taxpayers to a whopping $559 billion and benefit households earning more than $300,000 in annual income the most, according to a new study. 

The University of Pennsylvania’s Penn Wharton Budget Model estimates that several new student loan debt cancellation provisions announced by the Biden administration last week will cost taxpayers $84 billion over 10 years. 

The $84 billion figure is in addition to the $475 billion in projected costs over a decade for Biden’s Saving on a Valuable Education (SAVE) Plan – an income-driven repayment scheme that the 81-year-old president rolled out last summer. 


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