While the exact details of the plan remain unknown, estimates from the Committee for a Responsible Federal Budget, a nonpartisan think tank, suggest canceling $10,000 of student loan debt per borrower would cost taxpayers at least $230 billion.
The CRFB believes such a plan would mostly benefit wealthier Americans ("those in the top half of the income spectrum"), worsen inflation, and ultimately leave the major problem of college tuition prices unsolved.
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