The Supreme Court on Friday struck down the Biden administration program to forgive student debt for more than 43 million American borrowers at a cost of $400 billion.

The vote was 6-3, with conservative justices in the majority in an opinion written by Chief Justice John Roberts.

Six GOP-led states had challenged the program as executive power overreach. The administration had argued it was supported by emergency powers Congress had granted under COVID relief legislation.

It represents a major political defeat for President Joe Biden.

The program would have canceled $10,000 in student debt for all borrowers who made less than $125,000 and up to $20,000 for borrowers who also received Pell grants.

The White House earlier this week continued to decline to say what a “Plan B” would look like should the court strike it down.

Student loan payments are due to restart in October after a three-year pause put in place during the pandemic. Interest on federal student loans will start accruing in September.

This is a developing story. Please check back for updates.