Washington CNN —The Supreme Court struck down President Joe Biden’s student loan forgiveness program Friday, blocking millions of borrowers from receiving up to $20,000 in federal student debt relief, just months before student loan payments are set to restart after a yearslong pause. Biden had announced the student loan forgiveness program last August, but it never took effect, having been tied up in the courts for months. Ways borrowers can still seek debt reliefThe Biden administration has made it easier for many borrowers to seek federal student loan forgiveness from several existing debt cancellation programs. Student loan payments will restart soonRegardless of the way the Supreme Court ruled on the one-time forgiveness program, the Biden administration had said that student loan payments will be due starting in October. The forgiveness program, estimated to cost $400 billion, would have fulfilled a campaign promise of Biden’s to cancel some student loan debt.

Source: CNN July 01, 2023 13:52 UTC