Supreme Court urged to stop $6B student loan debt settlement by colleges.

1 min read
Source: NBC News
Supreme Court urged to stop $6B student loan debt settlement by colleges.
Photo: NBC News
TL;DR

Colleges, including for-profit institutions, have asked the Supreme Court to halt a class-action settlement that could lead to the cancellation of student loans worth over $6 billion for hundreds of thousands of borrowers. The settlement was approved by a California-based judge in November 2020 in a case brought by borrowers who claim their federal student loans should be canceled because their schools allegedly engaged in misconduct. The colleges object to their inclusion on a list of institutions linked with claims of "substantial misconduct" and argue that Education Secretary Miguel Cardona has exceeded his authority.

Share this article

Want the full story? Read the original reporting

Read on NBC News