Is the Supreme Court Going to Decide on Student Loans?

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If the court says, finds that they're standing and gets to that question of does the president have this authority, that is very likely to be a conservative versus liberal fight. The standing question is a little more complicated. That is probably where, if the administration is going to win this case, if it's going to pick off some of the conservative justices, that that's where they would do it.

President Biden’s plan to forgive federal student loan debt for millions of Americans has been frozen since a handful of Republican-led states sued to stop it. They argue the president doesn’t have the power to wipe away billions of dollars of debt on his own. It’s now up to the US Supreme Court to decide if they’re right.

Bloomberg Supreme Court correspondent Greg Stohr joins this episode to talk about the arguments on both sides, and where the 6-3 conservative majority might come down. And personal finance reporter Claire Ballentine explains what happens next for Americans with student debt if the court upholds Biden’s plan–or knocks it down.