For many borrowers, qualifying monthly payments that should have moved them closer to forgiveness were not accounted for, effectively forcing them to make extra payments under their IDR plans.
Nationwide, more than 45 million people owe $1.6 trillion in federal loans for college, according to government data, and as many as 43 million of them stood to benefit from the cancellation program.
The Court’s decision reverses decades of precedent. In 1978, the Court ruled that affirmative action was lawful, which it later upheld in 2003 and 2016.
A few years after Alito reportedly took a trip to Alaska paid for by Republican donor Paul Singer, the Supreme Court issued a ruling in a case involving Singer that netted his hedge fund $2.4 billion.