The Supreme Court on Friday blocked the Biden administration’s student debt relief plan, stopping more than 40 million borrowers from receiving loan forgiveness and delivering a major defeat to one of the president’s key campaign promises.

The high-stakes decision will limit President Biden’s options to deliver on his commitment to cancel $10,000 of student loans for low- and middle-income borrowers. 

“The Secretary asserts that the HEROES Act grants him the authority to cancel $430 billion of student loan principal. It does not,” Chief Justice John Roberts wrote.

Biden’s plan would have canceled up to $20,000 in loans for Pell Grant recipients and $10,000 for other borrowers, if the individual’s income is less than $125,000. The income limit was doubled for married couples.... Read More: The Hill