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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.

https://nypost.com/2024/04/16/us-news/bidens-student-loan-cancellations-to-cost-taxpayers-559-billion-study/

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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