Millions of student loan borrowers could see up to $20,000 of their debt canceled depending on the outcome of Tuesday’s US Supreme Court hearing on President Joe Biden’s student loan forgiveness program.
How and when the justices rule will also determine when payments on federal student loans will resume after a pandemic-related pause that has been in place for nearly three years. The Biden administration has said that payments will resume 60 days after litigation over the forgiveness program is resolved or at the end of August, whichever comes first.
What happens if the program is struck down? If the Supreme Court strikes down Biden’s student loan forgiveness program, it could be possible for the administration to make some modifications to the policy and try again – though that process could take months. “The ball goes back to the Biden administration,” said Luke Herrine, an assistant law professor at the University of Alabama who previously worked on a legal strategy for student debt cancellation.
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