Will the Court Use a Case to Make a Big Statement?

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There is a legal doctrine that we saw come up in the courts last term involving climate change. The Supreme Court said if it's a major question, an administration is saying we've got the authority to do something. If they take this case as an opportunity to sort of expand on that, really say here's what the major questions doctrine means. You could see that having a lot of impact on other areas as well.

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.