June 30th 2023.
The Supreme Court recently dealt a blow to President Joe Biden's proposed student loan forgiveness plan, voting 6-3 to reject it. This plan, which was meant to offer debt relief to over 25 million borrowers, was met with criticism from both sides of the political aisle.
In response to the court's decision, The White House released a statement on Friday afternoon, noting that President Biden plans to take "new actions to protect student loan borrowers". The statement also pointed out that the President anticipated the opposition to his plan, which was proposed in August of 2022.
The President himself released a statement on the matter, saying, "I believe the court's decision to strike down our student debt relief plan is wrong. 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 court's decision comes on the heels of their Thursday ruling to end affirmative action at Harvard University and The University of North Carolina, a move that reverses years of work to ensure diversity on college campuses.
The news of the court's decision was met with disappointment from many, particularly those in the Debt Collective, a coalition of loan borrowers. Braxton Brewington, a spokesperson for the collective, emphasized the need for the Biden Administration to use all the legal tools at their disposal to deliver students debt relief. He said, “It won’t be acceptable for Biden to point to the Supreme Court as the reason he can’t deliver on relief − he’ll need to fight every step of the way.”
The pandemic has seen many loan payments put on hold, but they are expected to resume this summer. In light of this, it is more important than ever for President Biden to find a way to make good on his promise of debt relief for hard-working middle-class families.
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