Supreme Court showdown for Biden's student debt relief plan | National headlines

The US Supreme Court is set to hear arguments on President Biden's student debt relief plan, which could forgive or reduce the loans of millions of borrowers. 

The plan, which was announced in August, would cancel up to $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. The court is hearing two challenges to the plan, one involving six Republican-led states that sued, and the other involving a lawsuit filed by two students. 

The justices will be examining whether the Biden administration has the power to enact the plan and how it went about doing so. It may take several months before a decision is reached, and if the debt does not get cancelled, federal student loan payments will resume 60 days after the case is resolved.

Student debt bullet points:

• Student debt relief has provided some relief for those struggling with loans, but it cannot last forever.
• Economists fear that student debt forgiveness could exacerbate existing issues and inflate taxes for future generations of students.
• The cost of college tuition has quadrupled in the last three decades, making it increasingly difficult for middle-class families to afford.
• Debt forgiveness may lead to universities increasing tuition, making college more expensive for future students.
• Student debt forgiveness is not a long-term solution to the underlying problem of rapidly inflating college tuition rates.
• To solve the issue of expensive student debt, we need to combat rapidly inflating college tuition rates and create protections that prevent students from going into unimaginable amounts of debt.