This controversial move is in keeping with a pledge he made in his 2020 campaign for the White House
Photo: AFP
On Thursday, a new estimate by the US Education Department showed that the one-time student debt relief plan announced by President Joe Biden in August would cost an average of $30 billion a year, over the next decade.
The Congressional Budget Office (CBO) said this week that Biden's plan to cancel some student loan debts would cost $400 billion.
Biden had said in August that the US government would forgive $10,000 in student loans for millions of debt-saddled former college students, keeping a pledge he made in his 2020 campaign for the White House.
ALSO READ: