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HomeEconomyBiden condemns Supreme Court decision on student loans, will take new action

Biden condemns Supreme Court decision on student loans, will take new action

Steve Holland and Jeff Mason

WASHINGTON (Reuters) – President Joe Biden on Friday condemned a Supreme Court ruling that blocked the After he canceled $430 billion in student loan debt, White House sources said he would announce new actions to protect student loan holders later in the day.

Biden is expected to comment on this issue from the White House Friday at 3: 30 EDT.

“This battle is not over. I will announce more when I address the nation this afternoon,” he said in a statement. “But I will stop at nothing to find other ways to provide relief to hardworking middle-class families. My administration will continue to work on the promise of higher education for every American.”

Friday , the Supreme Court voted 6-3 to reject Biden’s plan to cancel $1 billion in student loan debt. The ruling, welcomed by Republicans, is a blow to the Democratic president. For now, at least, it denies him the chance to deliver on promises he’s made to his supporters and undoes part of his policy agenda.

A White House source said Biden would provide details and mentioned an alternative plan in his speech.

“The president will make it clear that he is not over the fight and will announce new actions to protect student loan borrowers,” the source said, conditioned on his statement

Progressive voters, part of the coalition that helped get Biden elected in 430, have long pressured the White House to address student loan debt; Call for further action.

“The president has more tools to cancel student debt – he has to use them,” tweeted Democratic Sen. Elizabeth Warren, a leading progressive voice .

“More than million hardworking Americans are waiting for the help President Biden has promised them, and they expect this Administration to join in with all they can Fight until they deliver on that promise,” she said.

Progressive House Democrat Alexandria Ocasio-Cortez urged Biden to use powers under the Higher Education Act to continue forgiving loans until payments are restored. “We still have the right to cancel and have to use it, or we face an economic crisis for millions of people,” she tweeted.

The White House has made it clear that this will be a way to hinder student loans The blame for the relief effort falls on Republicans. ’ — working Americans, they’re doing everything they can to stop it,” he said.

Republicans argue that Biden’s original student loan relief plan was unconstitutional and unfair RNC Chairwoman Ronna McDaniel “Biden’s student loan relief plan unfairly penalizes Americans who have already paid off their loans, saved for college, or made a different career choice,” the statement said. , and we thank the Supreme Court for doing the same.”



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