Biden student loan deferment will cost taxpayers $40 billion: analysis

Biden student loan deferment will cost taxpayers $40 billion: analysis
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The Biden administration is again deferring repayment of student loans until President Joe Biden’s student loan forgiveness executive action makes its way through the courts, but a new analysis found that decision will cost taxpayers billions of dollars in unpaid interest.
The Committee for a Responsible Federal Budget released the analysis, which said Biden’s changing the repayment restart date from Dec. 31 until 60 days after litigation is decided will cost tens of billions of dollars in lost interest collection.
“We estimate extending the pause for 60 days beyond June 30, 2023 would cost $40 billion – the equivalent of...
Source: https://justthenews.com/nation/states/center-square/bidens-student-loan-deferment-will-cost-taxpayers-40-billion-group-says?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators