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trillion is where it stands now. and students who do not qualify for the specific program say it is not legal. so far, 26 million have applied for relief and 16 million approved. when the legal challenges put it on hold. and so, we will break it down and speak to a student who says that there is a clear racials a speblgt racial aspect to this as well. we go to jessica outside of the courtroom, and this is a real life impact for millions of borrowers and their families. tell us about this? yes, jim. there are practical ramifications. practical, there are 26 million borrowers who have applied for the program, and 10 million of them have already been approved. but after they appliedyied and approved, lower courts knocked it down. so if this is not approved, then they will not have been approved. but if it is approves the program, then those students will be eligible for that debt relief 60 days from when the decision comes by. but the biden administration says they h ....
The $400 billion program is consciously tailored to address the reality that Black Americans shoulder a disproportionate share of the nation's student debt. ....
Stayed. thank you very much. and this morning, our maria cardona spoke to the biden administration about why this is important. most of the benefit goes to people making under $75,000. and it is not a wholesale cancellation of student loans, but for the people who need it most. and as far as authority, the last administration used the same authority to pause loans. if the last administration used it, then we can use it as well. joining us is the vice president of morgan states naacp chapter. it is great to have us with us this morning. desiree, you had applied for the program, and you had been approved, and obviously now that is on hold. talk to us why it is important for why you have to be there in d.c. this morning? hi, yes. yes, i was approved, and i was fortunately one of the ones who ....
Face the adversities that i face and i feel like this is a major adversity that we face and it is not going to define me and continue me to go on to what i plan to do. desiree veney, thank you for joining us. thank you, and i appreciate this opportunity, and i wanted to say to the justices and the lawmakers and things like that, although this is not something that everyone is agreeing on, this is very important for everyone to understand how largely this has impacted not only me, not only all of the other americans and also specifically hbcu graduates and just african-american students in general. like i said the racial wealth gap is pretty big, so given this opportunity, we are able to build generational wealth and create a legacy an pd push forward. and cancel the student debt, ....
Please. thank you, desiree. no problem. and joining us legal analyst elliot williams, and always good to have you with us. we are in a holding pattern herings and as pointed out, this is key whether they can demonstrate the harm that brings them the opportunity to bring these two cases, so if the plaintiffs don t prevail here, they are going to regroup. so, this opposition, and this is not going to go away? i don t think so, and standing is what is called a threshold issue, and you have to be the party who was harmed by the thing if you wish to get into court, and this is how the lawsuit works. here you have a two states and borrowers, and both of them have complicated standings problems, because the borrowers, because ....