U.S. Student-Loan Forgiveness Program Proves Costly

Billions of dollars in debt is likely to be forgiven under the program, though the government hasn’t released its own estimate. The New America Foundation, in a 2014 paper by a right-leaning analyst detailing the potential benefits to well-paid workers, says the program is a big driver of the estimated $11 billion price tag annually for income-based repayment programs overall.