Supreme Court blocks Biden student loan forgiveness program in 6-3 decision

The Supreme Court blocks President Biden's student loan forgiveness program in a 6-3 decision in Biden v. Nebraska, ruling that the administration exceeded its authority under the HEROES Act of 2003. The program would have canceled up to $20,000 in federal student debt for borrowers earning less than $125,000 annually, affecting approximately 43 million borrowers with total debt relief of $430 billion. Chief Justice John Roberts writes the majority opinion, joined by the Court's conservative justices. The decision is a notable setback for Biden's economic policy and leaves millions of borrowers awaiting loan repayment resumption.