In just a month from now, the Supreme Court will begin deciding whether or not to strike down President Joe Biden’s student loan forgiveness program, which has already approved over 16 million people for forgiveness in only four weeks since the program opened for applications. The fate of the program, which is estimated to cost American taxpayers $400 billion, is on the line.
These 16 million borrowers will basically be in limbo, waiting for the Supreme Court to make its decision. Biden announced this program back in August, saying he’d forgive between $10,000 to $20,000 for qualified borrowers. But almost immediately, Republicans criticized the program and brought on a wave of lawsuits. And those lawsuits have led to the upcoming Supreme Court hearing.
