Biden student loan repayment plan will cost nearly $500 billion: Report

By Jeremiah Poff

Published July 18, 2023 10:30pm ET

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Biden student loan repayment plan will cost nearly $500 billion: Report — A stack of one hundred dollar bills in a money wrapper labeled "Student Loan" on top of a blue graduation cap. A gold graduation tassel is draped over the stack of money. | (iStock)

The Biden administration’s regulatory changes to the Income Driven Repayment program for student loans are expected to cost taxpayers nearly $500 billion over a decade, according to a new report.

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Budgets Department of Education Joe Biden Karine Jean-Pierre Student loans