Biden says he will try new path to forgive student loans after Supreme Court defeat
President Joe Biden said Friday that he will pursue canceling student loan debt through an alternative legal authority after the Supreme Court blocked his signature program to eliminate up to $20,000 in student loan debt for millions of Americans.
Biden said his administration will work to forgive student loan debt through the Higher Education Act of 1965, which authorizes the education secretary to modify, waive or compromise federal student loan under certain circumstances.
“In my view, it’s the best path that remains to provide as many borrowers as possible with debt relief,” he said in remarks from the White House after the court ruled his original plan exceeded executive authority.
