What happens if the Supreme Court strikes down student loan forgiveness? Here are 3 predictions
CNBC
Annie Nova
January 29, 2023
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Political consequences for Democrats. A historic rise in delinquencies.
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Here’s what experts predict will happen if the Supreme Court rules against Biden’s student loan forgiveness plan and the relief never materializes.
It’s possible that the U.S. Supreme Court will strike down the Biden administration’s student loan forgiveness plan, leading to a reversal for the millions of Americans who had been expecting the debt cancellation.
President Joe Biden in August announced that he’d forgive at least $10,000, and up to $20,000, for tens of millions of federal student loan borrowers. Within months, however, Republicans and conservative groups had brought at least six legal challenges against his plan.
The justices have agreed to hear oral arguments over two of those lawsuits at the end of February.