Earlier Friday, in a major blow to President Joe Biden and his administration, the U.S. Supreme Court officially struck down the federal student loan debt elimination scheme. And the impact of this ruling will have tremendous ramifications over the next year—specifically, as we’re heading into the 2024 election.

After about a year of legal back and forth, the Supreme Court ruled against the Biden administration, finding their scheme to be illegal. The court ruled 6–3, with the conservative wing (including Justices Clarence Thomas, John Roberts, Samuel Alito, Neil Gorsuch, Brett Kavanaugh, and Amy Coney Barrett) all ruling against the Biden administration.