Bidens press secretary initially said the program would cost $24 billion per year. ($240 billion over ten years)
However, depending on future details of the actual IDR program and concomitant behavioral changes, the IDR program could add another $450 billion or more, thereby raising total plan costs to over $1 trillion. These details require future study.
Source: https://budgetmodel.wharton.upenn.edu/issues/2022/8/26/biden-student-loan-forgiveness
