President Joe Biden announced a plan on Thursday to forgive $10,000 in student loans for millions of debt-riddled former college students. The cost? $24 billion per year assuming that three-quarters of those eligible take up the offer, the White House said.

“Assuming that 75% of folks take us on on the President’s student loan cancellation plan, and you look at the average cash flow on that, it’s going to be about $24 billion per year,” White House spokesperson Karine Jean-Pierre told CNN on Thursday.

When asked by Fox’s Peter Doocy “who is going to pay for this”? Biden’s press secretary refused to answer, causing many to feel skeptical about the reckless forgiveness program.

WATCH PRESS SEC. IGNORE DOOCY’S QUESTION: