Political Memes

Contrary to what other people will tell you, yes he could. For example, he could simply order all loan records destroyed and all loan enforcement stopped. He doesn't even need that Court ruling to do that, the Executive branch opts to not enforce laws all the time. Simply stop the government from doing anything about student loans. In fact, he (his administration) has done some of this--see the note on this page:

On March 9, 2022, the U.S. Department of Education asked the U.S. Department of Justice to request a pause of any active bankruptcy case if the borrower wishes.

Right now, student loans are a huge problem in the US because (unlike other debts) you cannot (easily) get out of student loans through bankruptcy and young people are getting saddled with monstrous amounts of debt that they aren't entirely consenting to, so rather than fix that in any way the "fix" was to simply force students to repay the loans regardless.

At the same time: no, he could not.

The fact of the matter is the case would eventually end up before the Supreme Court who would simply find against Biden. Nothing Biden does would be considered legal, everything Trump does would be considered legal. Literally the only way out of this is to remove the Justices who have no regard for the law.

This immunity ruling is a loaded gun that the Supreme Court dropped on the desk of the President. If the Biden does anything with it, the Supreme Court is going to say "no that's illegal, you can't do that!" Using this immunity ruling to remove them would be a good option, but Biden has no intent of ever doing that and so the loaded gun is still sitting on the desk for when Trump takes office. Whenever Trump does anything, the Supreme Court is going to simply say "immunity".