The Supreme Court has heard arguments on President Biden’s student loan forgiveness program and is expected to rule by June.
The Biden Administration appealed to the Supreme Court after a U.S. Court of Appeals in St. Louis halted the program on Nov. 14, siding with six states that had sued the government over the proposal. In accepting the case, the Supreme Court did not lift the stay on the plan, so it remains paused pending the decision.
Under the plan, borrowers earning less than $125,000 (or $250,000 if married) could receive up to $10,000 in debt relief. Pell Grant recipients could receive up to $20,000.
The federal loan payment moratorium has been extended through June 30, 2023 — a move the Biden administration made Nov. 22 in reaction to the appeals court ruling.