Legal expert discusses SCOTUS decision to strike down Biden’s student loan forgiveness plan

A sign reading "cancel student debt" is seen outside the Supreme Court, Friday, June 30, 2023, as decisions are expected in Washington. (AP Photo/Jacquelyn Martin)

The U.S. Supreme Court has blocked President Joe Biden’s plan to cancel or reduce federal student loan debt for millions of Americans.

In a 6-3 vote, the high court shut down the proposed plan that would have allowed U.S. Secretary of Education Miguel Cardona to cancel more than $430 billion in student loan debt.

It’s estimated 1 in 8 Americans will have to restart loan payments as soon as September.