Senate Blocks Biden's Student Loan Forgiveness Program, Navient and Other Stocks Rise.

The Senate passed a Republican measure overturning President Joe Biden's student loan cancellation plan, which awaits an expected veto. Biden has pledged to cancel up to $20,000 in federal student loans for 43 million people. The legislation aims to revoke Biden's cancellation plan and curtail the Education Department's ability to cancel student loans in the future. It would also roll back months of progress borrowers made toward loan cancellation through the Public Service Loan Forgiveness program.