Biden’s Proposed Student Loan Rule Would Cost Taxpayers Billions: Study

President Joe Biden delivers the commencement address during the 2023 Howard University Spring graduation ceremony at Capitol One Arena in Washington, on May 13, 2023. Mandel Ngan/AFP via Getty Images

A new report (pdf) released by the Foundation for Government Accountability (FGA) on June 27 outlines President Joe Biden’s proposed changes to the income-driven repayment program (IDR) and its potential cost to taxpayers.

The study came in advance of expected rulings by the Supreme Court this week on wider issues related to student loan forgiveness.