How the Supreme Court student loan decision affects you

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The Supreme Court has ruled the Biden administration overstepped its authority in trying to cancel or reduce student loan debt, effectively killing the $400 billion plan

after 10 years of regular payments, and some income-driven repayment plans cancel the remainder of a borrower's debt after 20 to 25 years.Borrowers who have beenThese programs aren’t be affected by the Supreme Court ruling.An income-driven repayment plan sets your monthly student loan payment at an amount that is intended to be affordable based on your income and family size.

— Income-driven repayment plans aren't right for everyone. That said, if you know you will eventually qualify for forgiveness under the

 

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