Biden Reveals 'New Plans' to Make Hard-Working Americans Pay for Student's Loans

Sarah Arnold | June 30, 2023 5:15 PM

President Joe Biden has clarified that he strongly disagrees with the Supreme Court's decision to strike down his $400 billion student loan forgiveness plan, vowing to fight against the conservative win.

During a press briefing on Friday, Biden said he would move forward with a new plan that would make hard-working Americans responsible for fronting the bill for students who decided to attend college.

"This new path is legally sound," Biden said. "It's going to take longer. And in my view, it's the best path to student debt relief to as many borrowers as possible as quickly as possible."

Under his new plan, Biden will invoke the Higher Education Act, which will grant Education Secretary Miguel Cardona access to "compromise, waive or release loans under certain circumstances."

Additionally, the president will create a temporary 12-month "on-ramp repayment program" to keep students from paying back the loans they decided to take out.

Biden claimed his massive student loan forgiveness program is good for the country and the economy.

The 80-year-old Democrat also attacked Republicans, accusing them of hypocrisy for supporting pandemic loan forgiveness for businesses but opposing relief for student borrowers.

"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," he wrote. "And those loans were forgiven. But when it came to providing relief to millions of hard-working Americans, they did everything in their power to stop it."