The Supreme Court has struck down President Joe Biden's student loan forgiveness plan with a 6-3 vote. The conservation majority ruled "federal law does not authorize the program to wipe out nearly half-a-trillion dollars in debt." The loan forgiveness plan would have canceled up to $20,000 in loans for Pell Grant recipients and $10,000 for other borrowers whose individual income is less than $125,000.
In response to the decision, Biden has vowed that “this fight is not over” and is working on other means of providing debt relief. The President elaborated on the situation in a statement on Friday.
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Joe Biden Responds To The Supreme Court
“I believe that the Court’s decision to strike down our student debt relief plan is wrong,” Biden said in a statement. “But I will stop at nothing to find other ways to deliver relief to hard-working middle-class families. My Administration will continue to work to bring the promise of higher education to every American.”
“The hypocrisy of Republican elected officials is stunning. They had no problem with billions in pandemic-related loans to businesses – including hundreds of thousands and in some cases millions of dollars for their own businesses. And those loans were forgiven,” he said. “But when it came to providing relief to millions of hard-working Americans, they did everything in their power to stop it.”
Joe Biden On Student Debt Relief
Striking down student loan forgiveness is just the latest of a series of controversial decisions by the Supreme Court. They also struck down affirmative action programs in college admissions and ruled that businesses can refuse service to LGBTQ+ customers on the basis of religious beliefs. Be on the lookout for more updates on Biden's plan in the coming days.
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