The Biden Administration recently finalized a rule to significantly expand student loan Income-Driven Repayment (IDR) plan. Although the Supreme Court ruled the President's $400 billion dollar student debt cancellation plan to be illegal, the President's IDR plan is likely to cost $276 billion or more, which would be added to the national debt. Marc Goldwein of the Committee for a Responsible Federal Budget recently presented on the cost of President Biden's IDR plan in the context of the nation's fiscal outlook.
