Student Loans Could Cause $ 68 Billion In Losses For Taxpayers And That’s Bad News For Student Loan Cancellation

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Taxpayers could lose $ 68 billion in federal student loans.

Here’s what you need to know – and what does it mean for student loan cancellation

Student loans

As the first reported through Wall street journalThe Biden administration has released new data on expected losses on the federal government’s student loan portfolio. Here are the details:

  • The total losses from the federal government’s student loan portfolio will cost taxpayers $ 68 billion;
  • This estimate is $ 53 billion more than previously expected; as well as
  • Earlier, the federal government expected $ 15 billion in losses due to outstanding federal student loan debt.

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