Supreme Court Allows $6 Billion Student Loan Forgiveness Settlement to Proceed

The Supreme Court declined to block a settlement that will cancel student loan debt for thousands of borrowers who claim they were misled by for-profit colleges.
The settlement will provide $6 billion in student loan forgiveness to nearly 200,000 former students at 151 schools accused of wrongdoing.
Everglades College, Lincoln Educational Services Corp., and American National University had appealed to the Supreme Court to halt the settlement but the court rejected their request.
The settlement is separate from President Biden’s plan to cancel up to $20,000 in student debt for millions of Americans, on which the Supreme Court is expected to rule in June.
The Education Department has already begun notifying borrowers that their student loans will be discharged under the settlement.