News White House pegs student loan plan’s cost at $240 billion. Experts say it will be twice that. August 27, 2022 Joey Garrison, USA TODAY Comments Off on White House pegs student loan plan’s cost at $240 billion. Experts say it will be twice that. A Penn Wharton analysis projected costs could soar past $1 trillion when factoring loan repayment reforms in addition to the debt cancellation.