The Supreme Court heard arguments Tuesday in a case involving President Joe Biden's plan to forgive federal student loan debt of those making less than $125,000 per year. Currently, 43 million borrowers are eligible, with 20 million borrowers potentially having all of their debt erased. This plan could cost $400 billion over the next three decades and, if successful, could lift millions of Americans out of debt and open up a wide range of financial opportunities.

Republican-appointed judges have sought to delay implementation of the plan since it was proposed in August. However, the 6-3 conservative majority on the court could be the deciding factor in allowing it to move forward. During the two hour event, justices heard from both sides, with state representatives and compelling student anecdotes being used to explain the gravity of the situation. Currently, 26 million people have applied for student loan debt relief and 16 million have already received approval.

The outcome of this