According to the Washington Post, the White House for now isn't confirmed details on broad student loan forgiveness.
As per the news, Biden’s words on the prospect of wide-scale student loan relief may come right before student loan borrowers are expected to restart federal student loan payments on September 1, 2022.
If we look out at the report, if the Biden administration forgive $10,000 in federal student loan debt then the shocking figure may come out yeah you heard it right it would cost approximately $300 billion.
The income cap is much less important than the amount of debt forgiven- Kent Smetters, faculty director for the Penn Wharton Budget Model.