It is possible that borrowers will not see instant relief even in the event that the Supreme Court rules in favor of Biden’s plan to cancel student loans. This will depend on the actions that the court authorizes.
If it does not decide to reverse the loan forgiveness, the court has two further choices. The first choice would involve ongoing litigation in lower courts, which would cause borrowers to have to wait longer for relief, whereas the second choice would result in quick forgiveness.
This adds another another level of ambiguity for the millions of borrowers who may already be perplexed about how to proceed with their student loans. The fact that the court could give a verdict as early as March further complicates the situation; nonetheless, analysts do not anticipate a ruling before the end of May or early June at the earliest.
“If the Court finds plaintiffs have no standing, then they would vacate the injunction in the Texas case and lift the stay in the 8th Circuit case, and remand for further proceedings. This was just at the preliminary injunction stage, so there will potentially be further stages and further arguments,” Jeffrey Dubner, the deputy legal director at Democracy Forward, said in a media scrum after oral arguments on Tuesday. “Or, the Court could direct the courts below to dismiss the case altogether.”
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