The Supreme Court has rejected a request to block a settlement that canceled and refunded around $6 billion of student loans to 200,000 borrowers at 151 for-profit colleges. The settlement was a result of a lawsuit where borrowers alleged that they were defrauded by these institutions. Three colleges, who were named in the settlement, tried to prevent the settlement from going forward, arguing that the secretary of education did not have the right to settle claims through “student loan cancellations and refunds.” However, the Biden administration argued that the case was within legal bounds and that any reputational harm would be “purely speculative.” The Supreme Court’s decision affirms the lower court's decision to approve the student loan debt settlement. Student loan debt has reached record highs in the United States, and the decision is a sign that the government is starting to take action to help borrowers. The court’s decision means that thousands of borrowers will have their debt wiped out, providing them with some much-needed relief.