Supreme Court rebuffs Biden administration plea to restore multibillion-dollar student debt plan
The Supreme Court has put on hold a multibillion-dollar plan from the Biden administration that aimed to lower payments for millions of student loan borrowers. The plan intended to provide a faster path to loan cancellation and reduce monthly income-based repayments while also not requiring payments from borrowers earning less than 225% of the federal poverty line. The plan has faced legal challenges, and the Supreme Court expects a fuller decision from the lower courts on the matter.
