President Joe Biden’s new student loan debt relief proposal is estimated to cost tens of billions of dollars in addition to the $475 billion projected for the administration’s SAVE (Saving on a Valuable Education) plan, a new study revealed.
According to the University of Pennsylvania’s Penn Wharton Budget Model (PWBM), attached to the White House’s five provisions in the recently announced initiative is an $84 billion price tag. In total, the final 10-year bill would be approximately $559 billion.
The new plans are projected to help as many as 30 million borrowers, a White House fact sheet claims. The revised package will contain several measures to help these individuals….
