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Could SCOTUS strike down loan forgiveness under PSLF?

Michelle Singletary and Danielle Douglas-Gabriel answered your questions on the status of PSLF, interest rates, and more.

People rally Tuesday in support of the Biden administration's student-debt relief plan in front of the Supreme Court. (Drew Angerer/Getty Images)

On Tuesday, Feb. 28, the Supreme Court heard opening arguments on if the Biden administration overstepped with its sweeping cancellation of federal student loan debt.

Under Biden’s proposal, borrowers can qualify for up to $10,000 in student loan forgiveness, and recipients of Pell Grants are eligible for an additional $10,000 in forgiveness. Roughly 16 million borrowers have been approved to receive relief.

Washington Post personal finance columnist Michelle Singletary and higher education reporter Danielle Douglas-Gabriel answered your questions on how the Supreme Court’s decision could affect you and what this means for your personal finances.

The chat has ended, but please review the transcript for answers to common questions related to interest capitalization and public service loan forgiveness. You may also qualify for other loan forgiveness programs. If you’re looking for advice related to your personal finances, read Michelle Singletary’s Money Milestones, financial advice for every decade.

Rivan Stinson, assistant editor personal finance, produced this Q&A.