- Pledged to present an alternative plan
- Proposal to cancel millions of federal student loans
- Members of the Republican Party took away the ray of hope
US President Joe Biden on Saturday vowed to introduce an alternative plan for student relief after the Supreme Court rejected his plan to forgive billions of dollars in student loans. Biden said student loan payments would be required in the coming weeks, but he would work on introducing a new program under the Higher Education Act designed to reduce the risk of defaulting on student loan payments.
Proposal to cancel millions of federal student loans
Hours after the Supreme Court’s decision, Biden’s remarks from the White House are being seen as an attempt to shore up his political ground ahead of next year’s presidential election. Notably, the Biden administration previously proposed a US$400 billion plan to cancel or reduce millions of federal student loans. However, the Supreme Court rejected this plan.
‘This fight is not over’
Asked about giving ‘false hope’ to borrowers, Biden said, ‘I didn’t give any false hope. Members of the Republican Party have taken away any ray of hope they had. Biden said on Friday that ‘this fight is not over’. He targeted the Republican Party on this issue. Biden said he will have more to say when he addresses the nation on Friday afternoon.
