Supreme Court Ruling on Biden’s Student Loan Forgiveness Expected by End of Week

Supreme Court Ruling on Biden’s Student Loan Forgiveness Expected by End of Week

We could learn as early as Thursday or Friday whether or not the Supreme Court will block or allow President Joe Biden’s controversial student loan debt forgiveness program to move forward.

The nine Supreme Court justices are expected to announce their decision on the case before adjourning for summer recess at the end of June, with Thursday being the court’s next scheduled opinion release day. While 18 cases remain pending, opinions in three of the more high-profile cases are expected this week. In addition to whether Biden has the authority to cancel student debt, other decisions expected this week include whether colleges can continue to use affirmative action and whether certain businesses have a right to refuse services for same-sex weddings.

The Biden Administration wants to eliminate up to $20,000 of student loan debt for eligible borrowers, who have already seen their student loan payments paused since the onset of the Coronavirus pandemic in March 2020. When that payment pause expires at the end of September, those roughly 40 million borrowers will face a big adjustment, as the typical monthly student loan payment is around $350. Some estimates say the often-extended pause kept about $15,000 in the pockets of borrowers.