More Student-Loan Forgiveness - Editorial

The Editorial Board writes:  The Supreme Court last month appeared likely to strike down President Biden’s $400 billion student loan write-down. Hate to break the news, but the Administration’s other executive actions could cost even more, judging from a new Congressional Budget Office report. In addition to waiving $10,000 to $20,000 in debt for nearly all borrowers, the Education Department recently proposed a rule sweetening the Obama income-based repayment plans. Borrowers currently can cap their monthly payments at 10% of discretionary income and have their remaining debt forgiven after 10 to 20 years.