The estimated cost of Biden's plan to cancel student loans over 30 years is $379 billion.

The U.S. Department of Education estimates that President Biden's one-time student debt forgiveness will cost $30 billion annually over the following ten years.

The proposal asks for forgiven amounts of up to $10,000 for each borrower of federal student loans or up to $20,000 for Pell Grant recipients.

According to the White House this week, Biden is still committed to provide help despite some disagreement to the proposal.

According to a Biden administration cost estimate, President Joe Biden's order to eliminate student loan debt for millions of Americans will cost $30 billion on average year

According to the Education Department, the 10-year cost will be about $305 billion as evaluated by decreased financial flows into the government.

 It will cost roughly $379 billion in today's money over a 30-year period.The idea will probably cost around $400 billion over the course of 30 years, according to the Congressional Budget Office. 

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