Maya MacGuineas on CNBC's "Squawk Box"

Committee for a Responsible Federal Budget president Maya MacGuineas recently joined CNBC's "Squawk Box" to discuss findings from the Congressional Budget Office's March 2024 Long-Term Budget Outlook, including what lawmakers should consider as we approach record debt levels and trust fund insolvency. Our published analysis of the long-term outlook can be found here.

You can watch the full interview here or below:

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Recent Student Loan Actions Forgo $5 Billion in Repayments

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.

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