REUTERS/Evelyn Hockstein/File PhotoWASHINGTON, Sept 26 (Reuters) - U.S. President Joe Biden's executive actions cancelling some student loan debt will cost about $400 billion, about a quarter of funds owed, the Congressional Budget Office (CBO) said on Monday. As of June 30, 43 million borrowers held $1.6 trillion in federal student loans. The U.S. government in March 2020 temporarily suspended interest and payments on federal student loans at the start of the COVID-19 pandemic. The extension of that pause from September through Dec. 31 will increase outstanding student loan costs by a further $20 billion, CBO said. After accounting for those suspensions, CBO estimates that the cost of student loans will increase by about an additional $400 billion.

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