Supreme Court's Rejection of Biden's Student Loan Forgiveness Plan Leaves College Graduate Hopeless

Many borrowers, including 28-year-old Scarlet Anderson, are feeling hopeless after the Supreme Court struck down President Biden's student-debt-relief plan. Anderson, who has $33,000 in student loan debt, had hoped for relief from the federal government but now sees no way out. The Supreme Court ruled that Biden's plan was unconstitutional and required approval from Congress. However, Biden has initiated a process to cancel student-loan debt using the Higher Education Act of 1965. Student-loan payments are set to resume in October, but Biden announced a new income-driven repayment plan and a 12-month "on-ramp" to help financially vulnerable borrowers.