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Biden Refuses To Say Who Will Pay For Student-Loan Bailout

Biden and Cardona

At a glance

  • Biden’s White House refuses to say how it will pay for the president’s unpopular decision to cancel hundreds of billions of dollars in student-loan debt.
  • The government is forgiving debt, which puts taxpayers on the hook for the principal and interest.
  • According to one study, this bailout will cost the average taxpayer $2,085, though that estimate could be low.

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