The Biden administration s initiative to partially relieve billions of dollars of federal student loan debt is unconstitutional, the Supreme Court ruled in a 6-3 decision Friday.
The loan forgiveness plan sought to relieve $10,000 of federal student loan debt for borrowers who earn less than $125,000 annually and up to $20,000 for those who went to college on Pell grants.
The loan forgiveness plan sought to relieve $10,000 of federal student loan debt for borrowers who earn less than $125,000 annually and up to $20,000 for those who went to college on Pell grants.
The Education Department calls the latest Biden initiative on college debt the ‘most affordable income-driven repayment plan ever made available to student loan borrowers.’