June 24, 2021

Student Loans May Cause $68 Billion Loss For Taxpayers, And It’s Bad News For Student Loan Cancellation

Student Loans May Cause $68 Billion Loss For Taxpayers, And It’s Bad News For Student Loan Cancellation


Taxpayers may lose $68 billion on federal student loans.

Here’s what you need to know — and what it means for student loan cancellation.

Student Loans

As first reported by the Wall Street Journal, the Biden administration released new data on the expected losses from the federal government’s student loan portfolio. Here are the details:

  • Total losses from the federal government’s student loan debt portfolio will cost taxpayers $68 billion;
  • This estimate is $53 billion higher than previously expected; and
  • Previously, the federal government expected there to be $15 billion of losses due to outstanding federal student loan debt.



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