Student-loan borrowers are less than 24 hours away from finding out if they'll get Biden's debt cancellation
will hurt their states' tax revenues, along with the revenue of Missouri-based student-loan company MOHELA.was filed on behalf of two student-loan borrowers who sued because they did not qualify for the full $20,000 amount of relief.
Both cases are seeking to permanently block the debt relief from reaching millions of borrowers. It's now up to the Supreme Court to decide if the loan forgiveness is legal, or if it cannot move forward. Regardless of the outcome, the Education Department is still, with interest beginning to accrue again in September after an over three-year pause.
It's unclear how the court will rule, but as Insider previously reported, two of the high court's prior decisions could. Before a court can even determine if a policy is legal, it must confirm the plaintiffs have standing to appear before the court in the first place. To do so, plaintiffs have to show that the policy would injure them, that the injury directly traces back to the defendant, and that the relief they're seeking would address those injuries.
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