Millions of Americans with student loan debt are awaiting a Supreme Court decision expected this month that will determine if President Joe Biden’s student loan forgiveness program will move forward. Under the program, up to $20,000 of student loan debt would be erased for people earning less than $125,000 a year, and married couples earning less than $250,000.
New Jersey residents currently hold more than $44 billion in student loan debt, according to data from the U.S. Department of Education. Without the forgiveness program, which was challenged in court before it ever started, student loan repayments will resume on Oct. 1, after a 3.5 year hiatus that began at the start of the pandemic.
