Supreme Court urged to stop $6B student loan debt settlement by colleges.

Colleges, including for-profit institutions, have asked the Supreme Court to halt a class-action settlement that could lead to the cancellation of student loans worth over $6 billion for hundreds of thousands of borrowers. The settlement was approved by a California-based judge in November 2020 in a case brought by borrowers who claim their federal student loans should be canceled because their schools allegedly engaged in misconduct. The colleges object to their inclusion on a list of institutions linked with claims of "substantial misconduct" and argue that Education Secretary Miguel Cardona has exceeded his authority.