Supreme Court's Pending Rulings on Biden's Student Loan Forgiveness and EPA Pollution Cuts.

The Supreme Court is expected to release its decision on President Biden's student loan forgiveness plan, which would provide up to $20,000 in one-time debt relief for borrowers with government-held federal student loans and earned income under $125,000 (or $250,000 if married and filing a joint tax return) in either 2020 or 2021. The Education Department had approved millions of borrowers for relief, but legal challenges halted the initiative. If the Court upholds the plan, the Education Department will likely start discharging balances for approved borrowers relatively quickly. If the plan is struck down, the administration will have to rely on existing student loan forgiveness initiatives and a proposed overhaul of repayment plans to provide additional benefits to borrowers.