Supreme Court student loan case: Details explained

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8. The Supreme Court will hear arguments on President Joe Biden's student debt relief plan, which aims to cancel $10,000 in federal student loan debt...

..for those making less than $125,000 or households with less than $250,000 in income per year.

7. The plan makes 43 million borrowers eligible for some debt forgiveness, with 20 million who could have their debt erased entirely.

6. The Supreme Court is dominated 6-3 by conservatives, and it remains to be seen how they will respond.

5. The court is hearing two challenges to the plan - one involves six Republican-led states that sued, and the other involves a lawsuit filed by two students.

4. The justices will be focused on whether the states and the two borrowers have the right to sue over the plan in the first place, a legal concept called “standing.”

3. The justices will also be asking whether the HEROES Act gives the Biden administration the power to enact the plan and how it went about doing so.

2. The court generally issues all of its decisions by the end of June before going on a summer break, so it will likely be months before borrowers learn the outcome of the case.

1. Whether or not the debt gets canceled, the case's resolution will bring changes, and federal student loan payments will resume 60 days after the case is resolved.

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