Supreme Court likely to rule Friday on Biden’s student loan debt plan

The U.S. Supreme Court is expected Friday morning to make a much-awaited ruling on the legality of President Joe Biden’s student loan debt forgiveness plan, a decision that could impact hundreds of thousands of Georgians.

Biden’s plan, which he announced in August, would eliminate up to $10,000 in federal student loan debt for borrowers with an annual income of less than $125,000. The plan cancels up to $20,000 in student debt for Pell Grant recipients whose loans are held by the federal government. Republican officials in some states sued to stop the plan, arguing that Biden is overstepping his authority. The U.S. Supreme Court heard the case earlier this year.

About 1 in 6 Georgians have student loan debt. The average debt for Georgians, nearly $42,000, is among the highest in the nation, federal statistics show.

As many as 43 million federal student loan borrowers will benefit from the relief plan, including 20 million who will have their debt completely erased, according to senior White House officials. Those with Parent PLUS loans held by the U.S. Department of Education are included in the relief plan, and current students also are eligible, officials said.

— Please return to ajc.com today for updates on the ruling and its impact on Georgia residents. You can also find the latest reporting from The Atlanta Journal-Constitution on our Education page.