Supreme Court denies Biden's latest ploy to cancel MORE student loan debt
The Biden administration was dealt another major blow by the Supreme Court, which denied its request to reinstate a major student loan forgiveness plan. The high court declined to allow Biden's $160 billion Saving on a Valuable Education (SAVE) plan to move forward. It comes after two federal judges last month sided with several Republican-led states and stopped Biden from moving forward with the debt cancellations. The plan, announced in June 2023, was designed to lower monthly payments and speed up loan forgiveness for millions of Americans by tying monthly payments to the income and family size of a borrower.
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