President Joe Biden's student loan forgiveness plan could cost about $24 billion per year, White House press secretary Karine Jean-Pierre told CNN, Report informs.
"Assuming that 75% of folks who take this on, the President's student loan cancellation plan, and you look at the average monetary, cash flow on that, it's going to be about $24 billion per year," she said on "Don Lemon Tonight."
Pushed by Lemon on whether the White House will release a detailed cost estimate, Jean-Pierre said that they will share more details once they see how many Americans take advantage of the plan.
The White House had struggled for a second straight day to answer questions about Biden's plan, simultaneously claiming that the President waited for the plan to be "fiscally balanced" before unveiling it and that there was no way to know how much the plan would cost.