Last week, the Supreme Court struck down President Biden’s sweeping plan to cancel billions of dollars in student loan debt.Stacy Cowley, a finance reporter for The New York Times, explains what the decision means for borrowers now facing their first payments since a coronavirus pandemic-related pause and how an alternative plan could still ease their burden.Guest: Stacy Cowley, a finance correspondent for The New York Times.Background reading: The proposed debt cancellation of more than $400 billion would have been one of the most expensive executive actions in U.S. history.Millions will now have to repay debts that the Biden administration had promised to eliminate.For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.