The Department of Education on Tuesday announced that it had reached an agreement to settle a lawsuit by ending President Joe Biden's student loan plans.

Biden's Education Department enacted the Saving on Valuable Education (SAVE) in the wake of a Supreme Court decision ruling that he could not unilaterally cancel student debt without an act of Congress. Republican-led states had challenged the backup plan, alleging it was illegal on its own.

“For four years, the Biden Administration sought to unlawfully shift student loan debt onto American taxpayers, many of whom either never took out a loan to finance their postsecondary education or never even went to college themselves, simply for a political win to prop up a failing Administration,” Under Secretary of Education Nicholas Kent said, according to The Hill.

The settlement would affect as many as 7 million borrowers.

Ben Whedon is the Chief Political Correspondent at Just the News. Follow him on X.