$6 Billion Student Loan Debt Settlement , Allowed by Supreme Court.<br />NBC News reports that on April 13, the <br />Supreme Court rejected a request made by three colleges to challenge the class-action settlement.<br />The schools that made the request are <br />Everglades College, Lincoln Educational Service Corp. and American National University. .<br />The secretary’s claimed authority amounts to nothing less than the power to cancel, en masse, every student loan in the country, Challenging schools, via court papers.<br />But the Justice Department determined <br />that the settlement "neither adjudicates <br />any rights or imposes any duties or <br />liabilities upon the relevant schools.".<br />The settlement, which is <br />unrelated to President Biden's efforts <br />to eliminate student loan debt, .<br />The settlement, which is <br />unrelated to President Biden's efforts <br />to eliminate student loan debt, .<br />stems from loans borrowers say were taken out after being misled by the schools.<br />The settlement could be worth over $6 billion, allowing thousands of loans to be canceled.<br />It was approved by U.S. District Judge <br />William Alsup in November.<br />The colleges were previously placed on a list by the federal government linked to "substantial misconduct.".<br />According to the Justice Department, approximately 3,800 of the loans were affiliated with the three colleges.<br />400 of them have been discharged so far
