Nearly 100 Republican members of Congress have called on House Speaker Nancy Pelosi to hold accountable President Joe Biden for what they say is his “illegal $300 billion student loan giveaway.”
Initially, the cost estimate was $300 billion. However, since then, the Committee for a Responsible Federal Budget (CRFB) projects that “cancelling up to $20,000 for some borrowers will cost taxpayers between $440 billion and $600 billion over the next ten years, with a central estimate of roughly $500 billion.”
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