The Supreme Court rejected President Biden's plan to forgive millions of student loans, ruling he did not have legal authority to waive more than $400 billion owed to the government.
By a6-to-3 vote in Biden vs. Nebraska, the court's conservatives said that only Congress could authorize such a large-scale cancellation of government-provided loans and had not done so.
Under the plan, most students with outstanding government-backed loans would have been able to seek $10,000 in relief, while those with lower incomes could have up to $20,000 forgiven.
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