![]() Student loans are now among the largest categories of debt in the U.S., with $1.8 trillion outstanding, and it would have reduced, or zeroed out, of as much as $20,000 in individuals’ balance held by the federal government. ![]() The relief plan was always controversial: It was derided as socialism on the right, but had the policy passed, it would have been a financial lifeline for 20 million people. The plan was to use the authority of the HEROES Act, a 2003 law expanding authority for the Department of Education, to modify the outstanding debt all the way down to zero. On Friday, the Supreme Court blocked $430 billion in federal student-loan relief, saying that the Biden administration’s plan was unconstitutional. Photo: Jemal Countess/Getty Images for People’s Rally to Cancel Student Debt
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