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The Biden administration's proposal to cancel up to $20,000 in federal student loans has been rejected by the Supreme Court.
The Supreme Court held, 6-3, that the Secretary of Education is not permitted by federal law to cancel student loan debt. The majority opinion was written by Chief Justice John Roberts.
When Biden's plan was first unveiled in August of last year, almost 16 million people applied before it was suspended due to Republican legal challenges.
According to the White House, Biden will present a fresh student loan strategy on Friday.