President Joe Biden’s plan to have taxpayers pay for student loans could cost more than $1 trillion, according to the Penn Wharton Budget Model.

Debt cancellation alone will cost up to $519 billion, the model found, with loan forbearance costing another $16 billion. In light of behavioral changes and program details, though, the total sum could be over $1 trillion.

The estimate is even more than the National Taxpayers Union Foundation, which analyzed the budget model, expected. The foundation found that debt cancellation will cost the average individual taxpayer over $2,000, the Washington Free Beacon reported.