Supreme Court strikes down President Biden's student loan debt relief plan

A sign reading"cancel student debt" is seen outside the Supreme Court, Friday, June 30, 2023, as decisions are expected in Washington.

The Supreme Court on Friday invalidated President Joe Biden’s student loan debt relief plan, meaning the long-delayed proposal intended to implement a campaign trail promise will not go into effect. The justices, divided 6-3, ruled that the program was an unlawful exercise of presidential power because it had not been explicitly approved by Congress.

The plan, which would have allowed eligible borrowers to cancel up to $20,000 in debt and would have cost more than $400 billion, has been blocked since

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