Supreme Court upholds $6 billion student loan settlement.

The Supreme Court has denied a request by a group of colleges to block a $6 billion settlement that will cancel the student loans of about 200,000 borrowers who say they were defrauded by their schools. The settlement resolves a class-action lawsuit filed in 2018 by people who accused the Education Department of ignoring their applications for loan forgiveness through the “borrower defense to loan repayment program.” The case is unrelated to President Biden’s broader effort to forgive up to $20,000 in student debt for tens of millions of borrowers, which the justices are set to rule on in the coming months.