The U.S. Supreme Court is set to rule on President Joe Biden’s plan to forgive $400 billion in student loan debt today or tomorrow. The program would forgive up to $20,000 in debt for individual borrowers.

       ABC News reports the decision could affect more than 40 million Americans. The Biden Administration announced the plan in September 2022. The order was challenged by six states, arguing it overstepped executive authority and unfairly disqualified some American borrowers.

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       Student Loans by the Numbers About 43.8 million Americans have student loan debts totaling $1.757 trillion, according to the Education Data Initiative. A study conducted by CreditDonkey revealed students in Maryland have the highest rates of student loan debt, with an average of $42,543 per borrower. Georgia, Delaware, and Virginia aren’t far behind, with an average of $41,826, $39,238, and $39,001 in student loan debt per borrower, respectively.