Under the plan, the administration proposed to forgive up to $10,000 in federal student debt for Americans earning less than $125,000 a year.
The ruling marks a political setback for the Democratic president, as tackling student loan debt was a key pledge he made on the campaign trail in 2020 to energise younger voters.Mr Biden's plan aimed to fulfil his campaign promise to cancel a portion of $1.6 trillion in federal student loan debt.It was criticised by Republicans who called it an overreach of his authority and an unfair benefit to college-educated borrowers while other borrowers received no such relief.
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