Is There a Third Option?

3min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

This is really a case that is very likely almost certainly going to determine whether Joe Biden can forgive these loans. A lot of cases do have that sort of off-ramp or the court kind of duct the big question because it can decide on a smaller one. Greg, please stay seated. We'll keep talking after the break.

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.