RUMOR - Biden to announce cancellation of student debt

[BmorePat87]

I'm seeing some wild claims about the impact on taxpayers. I've seen estimates from $240-600m (over 10 years).

We're talking from less than half a percent to upwards of 2% of the total federal budget.

I saw one article note the 10 year price tag and then present the taxpayer burden as a lump sum (total cost divided by tax payers). Using an average is incredibly disingenuous in this case, as we know that tax burdens are not equally applied to all tax payers.

It's also wild how something that directly benefit individuals making under $125k is raising a bigger stink than PPP "loans" that primarily helped the wealthy, cost more, and were not paid back.