{"id":1622397,"date":"2022-08-26T07:33:01","date_gmt":"2022-08-26T11:33:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1622397"},"modified":"2022-08-26T07:33:59","modified_gmt":"2022-08-26T11:33:59","slug":"white-house-admits-they-have-no-idea-what-student-loan-forgiveness-will-cost","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-admits-they-have-no-idea-what-student-loan-forgiveness-will-cost\/","title":{"rendered":"White House Admits They Have No Idea What Student Loan Forgiveness Will Cost"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwhite-house-admits-they-have-no-idea-what-student-loan-forgiveness-will-cost%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1622397&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div id=\"speechkit-wrapper\" class=\"speechkit-wrapper\">\n<p><span class=\"label-bg\">NEW<\/span>You can now listen to Fox News articles!\n  <\/p>\n<\/div>\n<p class=\"speakable\"><a href=\"https:\/\/www.foxnews.com\/category\/politics\/executive\/white-house\" target=\"_blank\" rel=\"noopener\">White House Press Secretary<\/a> Karine Jean-Pierre said Thursday that President Biden\u2019s student loan handout plan could cost about $24 billion a year \u2013 assuming 75% of those eligible take advantage of it.\u00a0<\/p>\n<p class=\"speakable\">&#8220;The other piece of this is\u2026 too is we\u2019re going to see,&#8221; Jean-Pierre told CNN\u2019s Don Lemon as he pressed her on when the White House would release a cost estimate for the plan.\u00a0<\/p>\n<p>She continued, &#8220;I said assuming people take us up on this student debt relief plan that the president put forth that\u2019s why I said assuming 75%, so we are going to share what that\u2019s going to look like. I wanted to give you a little bit of what we\u2019re thinking how this is\u2026 how this is going to move forward.&#8221;<\/p>\n<p>The $24 billion a year estimate is under the nonpartisan Committee for a Responsible Federal Budget\u2019s analysis released Thursday that the program will cost between <a href=\"https:\/\/www.foxbusiness.com\/money\" target=\"_blank\" rel=\"noopener\">$440 and $600 billion,<\/a> settling on a central estimate of approximately $500 billion.<\/p>\n<p><a href=\"https:\/\/www.foxnews.com\/politics\/karine-jean-pierre-white-house-doesnt-have-real-sense-how-much-student-loan-handout-cost\" target=\"_blank\" rel=\"noopener\"><strong>KARINE JEAN-PIERRE SAYS WHITE HOUSE DOESN&#8217;T HAVE \u2018REAL SENSE\u2019 OF HOW MUCH STUDENT LOAN HANDOUT WILL COST<\/strong><\/a>\u00a0<\/p>\n<div class=\"image-ct inline\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 767px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><\/div>\n<div class=\"caption\">\n<p>\n      White House Press Secretary Karine Jean-Pierre holds the daily press briefing at the White House in Washington, D.C., U.S. August 25, 2022.\u00a0<br \/>\n      <span class=\"copyright\">(REUTERS\/Jonathan Ernst)<\/span><\/p>\n<\/div>\n<\/div>\n<p>If 75% of eligible participants take advantage, Jean-Pierre\u2019s estimate would cost roughly $240 billion over 10 years and would be closer to $320 billion with 100% participation.\u00a0<\/p>\n<p>Earlier Thursday, she admitted that the Biden administration isn\u2019t yet sure of the cost and said it would depend heavily on borrowers and how many of the loans were expected to be repaid.\u00a0<\/p>\n<p><a href=\"https:\/\/www.foxnews.com\/politics\/biden-administration-will-look-crack-colleges-raising-tuition-student-loan-handout\" target=\"_blank\" rel=\"noopener\"><strong>BIDEN ADMINISTRATION WILL \u2018LOOK INTO\u2019 AND \u2018CRACK DOWN\u2019 ON COLLEGES RAISING TUITION AFTER STUDENT LOAN HANDOUT<\/strong><\/a>\u00a0<\/p>\n<div class=\"image-ct inline\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 767px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/jean-pierre-with-lemon.jpg\" alt=\"CNN host Don Lemon pressed White House Press Secretary Karine Jean-Pierre Thursday evening on when the Biden administration would release a detailed cost estimate.\u00a0\" \/><\/div>\n<div class=\"caption\">\n<p>\n      CNN host Don Lemon pressed White House Press Secretary Karine Jean-Pierre Thursday evening on when the Biden administration would release a detailed cost estimate.\u00a0<br \/>\n      <span class=\"copyright\">(CNN)<\/span><\/p>\n<\/div>\n<\/div>\n<p>&#8220;All of this, when it comes to cost, will depend on how many of the loans canceled were actually expected to be repaid,&#8221; Jean-Pierre said. &#8220;It will depend on how many borrowers actually take up this opportunity before we have a real sense.&#8221;<\/p>\n<p>She argued the cost will be offset by the deficit reduction included in other <a href=\"https:\/\/www.foxnews.com\/category\/person\/joe-biden\" target=\"_blank\" rel=\"noopener\">Biden administration<\/a> priorities.\u00a0<\/p>\n<div class=\"image-ct inline\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 767px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/GettyImages-1242693032.jpg\" alt=\"President Joe Biden speaks during a news conference in the Roosevelt Room of the White House in Washington, D.C. on Wednesday, Aug. 24, 2022.\u00a0\" \/><\/div>\n<div class=\"caption\">\n<p>\n      President Joe Biden speaks during a news conference in the Roosevelt Room of the White House in Washington, D.C. on Wednesday, Aug. 24, 2022.\u00a0<br \/>\n      <span class=\"copyright\">(Bonnie Cash\/UPI\/Bloomberg via Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>Jean-Pierre also dodged questions from Fox News White House Correspondent Peter Doocey Wednesday when he tried to drill down who would be responsible for paying for the plan.\u00a0<\/p>\n<p>&#8220;When you forgive debt you\u2019re not just disappearing debt,&#8221; Doocey pressed after the press secretary initially avoided his first question. &#8220;Who is paying for this?&#8221;\u00a0<\/p>\n<p><a href=\"https:\/\/www.foxnews.com\/apps-products\" target=\"_blank\" rel=\"noopener\"><strong>CLICK HERE TO GET THE FOX NEWS APP<\/strong><\/a><\/p>\n<p>She continued to argue that Biden\u2019s accomplishments have brought down the deficit, which would help pay for the program.<\/p>\n<p><a href=\"https:\/\/www.foxnews.com\/politics\/biden-announces-student-loan-handout-national-debt-soars\" target=\"_blank\" rel=\"noopener\"><u>Biden announced<\/u> <\/a>up to $20,000 in federal student loan forgiveness on Wednesday. Students who attended college using federal Pell Grants qualify for the $20,000, but those who did not use the program qualify for $10,000 in forgiveness. The handout only applies to borrowers making less than $125,000 per year.<\/p>\n<p><i>Fox News&#8217; Anders Hagstrom contributed to this report.\u00a0<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEWYou can now listen to Fox News articles! White House Press Secretary Karine Jean-Pierre said Thursday that President Biden\u2019s student loan handout plan could cost about $24 billion a year<\/p>\n","protected":false},"author":1,"featured_media":1622400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1622397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1622397","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1622397"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1622397\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1622400"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1622397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1622397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1622397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}