White House says it has approved 16 million borrowers for student debt relief

The White House on Friday said it has already approved around 16 million Americans for student debt relief ahead of Supreme Court debate on whether or not the program will be allowed to proceed.

The White House revealed the figure in a press release, noting that around 26 million individuals were poised to receive student debt relief in September of last year, and that "over 16 million of those borrowers' applications were fully approved by the Department and sent to loan servicers."

The program was put on pause in November when the Supreme Court ordered a halt to the proceedings as it considered lawsuits critical of the forgiveness plan.

The high court is expected to hear arguments regarding the plan on Feb. 28.