Biden's student loan forgiveness plan to face crucial test at Supreme Court
CBSN
Washington — The Biden administration's plan to cancel up to $20,000 in federal student loan debt for millions of Americans will come under scrutiny by the Supreme Court on Tuesday, facing a crucial test from a conservative court that has been wary of broad claims of executive power.
The program, unveiled in August, satisfies a campaign promise from President Biden and would provide relief to more than 40 million borrowers, 20 million of whom would have their loan balances wiped out altogether, the White House estimates.
But with a cost of roughly $400 billion, a group of six states and two borrowers from Texas are pushing the Supreme Court to invalidate the program and argue the Biden administration unlawfully invoked the COVID-19 pandemic to claim "breathtaking and transformative power," according to a court filing from the states.
