The Congressional Budget Office estimated the likely cost of the government’s student loan forgiveness plans at around $400 billion over three years, CNN and the Washington Post reported. The CBO noted, however, that any estimate is subject to uncertainty as it depends on a number of assumptions, including the number of applicants for loan forgiveness. The plan calls for up to $10,000 debt of cancellation for people who made less than $125,000 during 2020 or 2021 or married couples or heads of households with incomes less than $250,000 annually. Individuals who received a federal Pell grant could get up to $20,000 of debt forgiveness.