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.

Read more: https://bloom.bg/3ktdt6P 

Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK 

Have questions or comments for Wes and the team? Reach us at bigtake@bloomberg.net.