Biden Student Loan plan expected cost: $24B per year

Phot Credit : Social Mdeia

Phot Credit : Social Mdeia

White House press secretary estimates that expected budget to forgive student loan is $24 Billion/year

Phot Credit : Social Mdeia

White House press secretary Jean-Pierre briefed media about expected budget for President Biden's plan to forgive student loan.  

Phot Credit : Social Mdeia

Jean-Pierre shared that they will release more details once they see how many Americans take advantage of the plan.

Phot Credit : Social Mdeia

Jean-Pierre expressed that the number of borrowers is not clear so far. A detail assessment is going on, in this regard. 

Phot Credit : Social Mdeia

Jean-Pierre assured that they will release full details in coming days.  

Phot Credit : Social Mdeia

Earlier in April, White House claims that 20 million borrowers would be going to take benefits.

Phot Credit : Social Mdeia

According to latest Federal Reserve figures, Students in the US hold about $1.75 trillion in debt.