In 2022, the Biden Administration announced plans to forgive as much as $20,000 in federal student loans per borrower, in a sweeping plan that is estimated to cost $400 billion to implement. However, the plan has been challenged, and is currently in the hands of the Supreme Court.

The Supreme Court's ruling on the legality of the forgiveness plan is expected in the coming weeks, and this begs the question: What happens next if student loan forgiveness is not allowed to proceed?

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Source Fool.com