The Congressional Budget Office estimates that the federal student loan program will cost taxpayers $393 billion from 2024 to 2034, marking a shift from previous expectations of profitability to significant losses.
Baltimore Secures $45 Million Settlement from Allergan to Combat Opioid Crisis
According to the article in The Washington Times, the Congressional Budget Office (CBO) has updated its estimates, showing that the federal student loan program will cost taxpayers a hefty $393 billion from 2024 to 2034. This means each household could pay about $3,100 over the next decade. The program is expected to lose around $221 billion on $1.1 trillion in loans issued during this period, with potential losses rising to $278 billion using a fair-value approach. This marks a shift from previous expectations where taxpayers were predicted to make money, now facing a loss of 20 cents per dollar in loans issued this year.
Baltimore has achieved a significant legal victory, securing a $45 million settlement from Allergan, a pharmaceutical company, for its role in the opioid crisis. Instead of joining a longer settlement with other cities, Baltimore pursued its case, focusing on helping those affected by opioid addiction. Mayor Brandon Scott emphasizes careful management of the funds to ensure they effectively address community needs and support programs like peer navigation.
READ ALSO: $1 Million Penalty: UnitedHealthcare Settles With New York AG For Failing To Provide Required Birth Control Coverage – Check It Now!
$393 Billion in Student Loan Costs, $45M Opioid Settlement, and Presidential Debate Anticipation: A Trillion-Dollar Week in American Politics! (PHOTO: Washington Times)
CNN Prepares for 2024 Presidential Debate Between Biden and Trump Amid Media Speculation
Furthermore, CNN is gearing up to host the first debate of the 2024 presidential election between President Joe Biden and former President Donald Trump. The upcoming debate recalls the contentious 2020 showdown, where Trump’s aggressive style drew strong criticism. As the debate approaches, there is speculation about whether the media coverage will echo past debates, scrutinizing the candidates’ performances and influencing public opinion.
READ ALSO: Student Loan Debt Relief Disparities: Private Loan Challenges And Emotional Toll Revealed
