The student debt cancellation program could afford relief to over 27 million borrowers, but its future remains uncertain following a federal judge's ruling in Missouri.
Judge Matthew T. Schelp expressed skepticism about the legality of the Biden administration’s student debt relief plan, citing likely success for the states' challenge in his ruling.
The prolonged legal challenges have hindered the Biden administration's efforts to fulfill a campaign promise of providing mass student loan relief to struggling borrowers.
The court's ruling follows a series of setbacks, including a recent Supreme Court decision that invalidated an earlier plan for wide-ranging student debt forgiveness.
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