The new plan was part of a piecemeal approach to student debt after the justices rejected a proposal last year that would have canceled more than $400 billion in loans.

The Biden administration plan, known as Save, offers lower monthly student loan payments and a faster path to loan cancellation for millions of borrowers.

A U.S. judge on Thursday temporarily blocked President Joe Biden's administration from implementing its latest student debt forgiveness plan, just days after seven Republican-led states filed a lawsuit seeking to halt it.