Since President Biden announced he would forgive the student loans of millions of Americans last year, the biggest unanswered question about the scheme has been how much it would cost taxpayers.
It’s a question that only exists because the U.S. government took over the student loan industry in 2010. The government has had to borrow the money to fund student loans ever since. If the people who took out student loans are excused from having to pay their debt as they agreed, that’s a big part of the national debt that won’t be paid back. That means other Americans are being forced to bear the cost of
