LIVE | Supreme Court strikes down Biden’s student loan forgiveness plan

The Supreme Court ruled that the Biden administration overstepped its authority in trying to cancel or reduce student loan debt, effectively killing the $400 billion plan. Millions of Americans are expected to resume payments by late summer. The plan Biden announced last August would have canceled $10,000 in federal student loan debt for those earning less than $125,000, or households with less than $250,000 in income. Pell Grant recipients, who typically come from lower-income households, would have received an additional $10,000 in debt forgiveness, for a total of $20,000.