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The Supreme Court rejects Biden's plan to wipe away $400 billion in student loans

By AP News - Jun 30, 2023, 10:42 AM ET
Last Updated - Jun 30, 2023, 10:42 AM EDT
Supreme Court Student Loans
ASSOCIATED PRESS

A sharply divided Supreme Court has ruled that the Biden administration overstepped its authority in trying to cancel or reduce student loans for millions of Americans

WASHINGTON (AP) — A sharply divided Supreme Court ruled Friday that the Biden administration overstepped its authority in trying to cancel or reduce student loans for millions of Americans.

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The 6-3 decision, with conservative justices in the majority, effectively killed the $400 billion plan, announced by President Joe Biden last year, and left borrowers on the hook for repayments that are expected to resume by late summer.

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