Washington Examiner - Political News and Conservative Analysis About Congress, the President, and the Federal Government The press is indicating that President Joe Biden will make an announcement tomorrow on his long-awaited decision to cancel student loan debt for millions of Americans. Rumors suggest that the president will be canceling $10,000 of student debt per borrower, excluding borrowers with annual income over $125,000. At the same time, it is expected that he will extend the pause on student loan repayment that has been in place since the onset of the COVID-19 pandemic.
A new study from the Penn Wharton Budget Model, based out of the University of Pennsylvania, indicates that this plan would cost taxpayers over $300 billion, and two-thirds of the dollars forgiven would benefit households in the top 60% of the income distribution…
