In a significant legal setback for the Biden administration, a U.S. appeals court has blocked key initiatives aimed at student loan forgiveness, including the $475 billion and $500 billion debt cancellation plans. The rulings came in response to challenges from Republican lawmakers, asserting that President Biden exceeded his authority in attempting to alleviate student debt. With multiple programs now on hold, borrowers are left in uncertainty about their repayment options as the legal battles continue.