The University of Pennsylvania’s Wharton Business Model calculates that President Joe Biden’s new student loan cancellation plan could cost over $1 trillion, depending on the program’s final parameters and people’s response to it.
Biden announced on Wednesday that he was unilaterally canceling up to $10,000 student loan debt for individuals earning $125,000 or less and families making $250,000 or less.
For those who received Pell Grants, they will be eligible for up to $20,000 in debt forgiveness, with the same income thresholds.
Keep calculating because the early estimate is always more than double in the end.
Always.
surely some entity will file lawsuits against this “illegal” action of the president. with a little luck it won’t ever get implemented
Lets have a Democrat Cancelation Program instead !!!! That costs NOTHING !!!!! SOLVED !!!!
Why not forgive the loans for the tools and equipment that licensed auto technicians, plumbers, welders, carpenters and HVAC need to buy as well as the schooling that paid for? At least that have skills all Americans need and use. When was the last time you needed someone with a “racial equity” degree?
1130am
I obtained my. Masters in Transgender Studies with minors in Pedophile Phobia.
I owe the University 100,000 dollars while I work at Dollar store.
I can’t pay my bills
Love you all
Americans WON’T stand for it !!! Discrimination !!!!
Time 2