The $1 trillion figure comes from a study by the Wharton School of the student loan forgiveness plan Biden plans to implement. As part of the plan, he'd cancel $10,000 in student debt for millions of students, which will cost upward of $519 billion.
The College Board, which tracks how much money is thrown at college students, reports that federal aid in the 2020-2021 school year was $134.4 billion.
- Over the past decade, federal aid totaled $1.7 trillion, with states throwing in another $119 billion
- The explosion in college aid fueled hyperinflation in college tuition, which miraculously has kept almost perfect pace with the increase in aid.
- Is all this taxpayer money worth it if all it's doing is fueling tuition inflation?
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