The Biden administration's latest plan to wipe out federal student loan debt for millions of borrowers could add up to $750 billion to the national deficit, according to a Tuesday report from the Committee for a Responsible Federal Budget.So far, the White House has announced $150 billion in so-call.
“Georgia taxpayers have made it clear that they know it’s wrong to be forced to pay off other people’s student loans, particularly those with the highest earning potential,” Georgia Attorney General Chris Carr said.
After months of negotiations, the administration is proposing a rule to reduce the debts of millions of borrowers. But the plan will likely face legal challenges.