The White House says that its new student loan forgiveness program is expected to cost $24 billion over a 10-year period, far less than what independent researchers have said.
already "fully paid for" since the U.S. is on track to see a $1.7 trillion reduction in the U.S. deficit.
"We're using a portion of that, a very small portion of it, to provide relief to middle class families consistent with the President's plan," he added. The White House extended the pandemic-era student loan repayment freeze through the end of the year.
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