Biden's Student , Loan Forgiveness Plan , Could Come At a Cost.<br />'Newsweek' reports that President Joe Biden's <br />proposed $430 billion student debt relief plan is currently being weighed by the Supreme Court.<br />'Newsweek' reports that President Joe Biden's <br />proposed $430 billion student debt relief plan is currently being weighed by the Supreme Court.<br />Justices will hear arguments in two cases opposing <br />Biden's authority to cancel loans held by tens <br />of millions of people in the United States.<br />'Newsweek' reports that critics of the plan <br />have cited the sizable price tag and pointed <br />to the current state of the economy.<br />According to the Congressional Budget Office <br />(CBO), the plan would cost an estimated <br />$430 billion over the next 30 years.<br />'Newsweek' reports that the CBO's estimate<br />would come out to approximately $2,730, <br />or $91 dollars annually, for each taxpayer. .<br />'Newsweek' reports that the CBO's estimate<br />would come out to approximately $2,730, <br />or $91 dollars annually, for each taxpayer. .<br />The CBO projections <br />are in many ways <br />fictional best guesses, Caroline Bruckner, Tax professor <br />at American University, via Newsweek.<br />It's hard to accurately estimate over <br />a 30-year window and I have been <br />advised by multiple economists to <br />not bother trying in my own research, Caroline Bruckner, Tax professor <br />at American University, via Newsweek.<br />Previously, 'Newsweek' reported that the cost would be <br />roughly equivalent to stimulus checks given to U.S. <br />taxpayers since the beginning of Biden's presidency.<br />Joann Weiner, an associate professor of economics at <br />George Washington University, warns that the proposed <br />debt relief plan could force schools to hike tuition rates
