Biden student loan repayment changes could cost around $475B: economic model

(The Hill) -- President Joe Biden’s changes to the income-driven repayment (IDR) plans could cost around $475 billion over a 10-year budget window, according to the Penn Wharton Budget Model. The administration introduced the Saving on Valuable Education (SAVE) plan earlier this year to transform the IDR system in a move that could save thousands of dollars for student loan borrowers. The final changes to the plan, such as cutting discretionary income for repayments from 10 perce