The U.S. Department of the Treasury recently released its final Monthly Treasury Statement for Fiscal Year (FY) 2024, showing a $1.8 trillion deficit for the year. The actual FY 2024 deficit is $82...
The Department of Education announced last week a six-month extension of automatic forbearance to all borrowers enrolled in the SAVE income-driven repayment plan while it is being challenged in courts, adding that they will forgive any unpaid accrued interest during that time. We estimate that the Department of Education is forgoing roughly $500 million of repayments per month, meaning that this extension would result in $3 billion in forgone payments, bringing the total amount up to $5 billion. Importantly, much of those payments will instead be paid later, and so the net cost would be some fraction of that $5 billion.
Note: This analysis has been updated to incorporate new proposals announced by the candidates since we initially published on October 7. You can read the original analysis here . The next President...
