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.
The US Supreme Court announced on Monday that it will hold arguments in a second case in February concerning President Biden’s student loan forgiveness program, which is currently on hold.
In addition to exempting student loan debtors from repayment obligations, the administration also announced an extension of the freeze on student loan interest rate accrual through Dec. 31. The freeze was first enacted under President Donald Trump as part of the initial response to the federal coronavirus public health emergency, and it has been renewed six times.
