What Will Happen to Your Student Loans Now

The Supreme Court’s decision on Friday striking down President Biden’s student debt cancellation initiative effectively punts the issue to Congress, where it is all but certain to go unaddressed.
In overturning Mr. Biden’s $400 billion proposal to cancel student loans for 40 million Americans, the court said that he had overstepped his authority and that such an expansive program needed explicit approval by Congress.
Republicans had said they would block the proposal if the Supreme Court did not, though their multiple efforts to do so have not succeeded.
In their initial bill to lift the debt ceiling, approved along party lines in April, House Republicans included a measure that would have axed the debt cancellation plan and lifted a temporary pause on payments put in place during the pandemic. But that bill died once debt ceiling negotiations began between the White House and Speaker Kevin McCarthy.