White House approves 16 million people for contested student loan forgiveness plan. Whether they see relief depends on Supreme Court decision

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Wirestock | Istock | Getty ImagesThe U.S. Department of Education has “fully approved” more than 16 million people for federal student loan forgiveness and sent their applications to loan servicers, the Biden administration announced Friday.The administration gave a state-by-state breakdown of the number of borrowers who have applied and been approved for its sweeping debt relief program, which is on hold until the U.S. Supreme Court decides its fate.In August, President Joe Biden announced that he’d forgive at least $10,000, and up to $20,000, in federal student loan debt for tens of millions of borrowers.Within months, however, Republicans and conservative groups had brought at least six legal challenges against the plan. The Biden administration in November had to close its student loan forgiveness portal after a federal judge in Texas struck down its plan.More from Personal Finance:Tax filing season is here. How to get a faster refundGen Xers carry the most credit card debt, study showsHere’s what it takes to get a near-perf …

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