US Supreme Court strikes down President Biden student loan forgiveness plan

 President Biden expresses his disappointment with the Supreme Court's decision to strike down his student debt relief program and announces a new approach to provide relief under the Higher Education Act. He introduces a temporary 12-month repayment program and vows to continue fighting for borrowers. Despite Republican opposition, Biden believes that student loan relief is necessary and plans to use every available tool to provide the needed debt relief. Students protesting outside the Supreme Court also express their desire for more action from the White House.

1.President Biden discusses his efforts to provide student loan relief through various programs and reforms. He highlights the increase in Pell grants and the improvement of the Public Service Loan Forgiveness program, which has benefited over 600,000 borrowers. The Obama-Biden Administration's income-driven repayment plan is also mentioned, with a reduction in the payment limit from 10% to 5% of disposable income. The President emphasizes that no undergraduate borrower will have to pay more than 5% of their disposable income towards loan repayment. Additionally, he mentions his proposed student debt relief plan, which would have provided up to $10,000 for many borrowers and up to $20,000 for those with a Pell Grant. However, Republican officials and special interests opposed the plan and it was ultimately overturned by Congress. President Biden criticizes the hypocrisy of opposing student loan relief while supporting the Paycheck Protection Program, which benefited elected officials who received hundreds of thousands of dollars. He argues that his plan would have been life-changing for millions of Americans and would have stimulated the economy.

2.President Biden expresses his disappointment with the Supreme Court's decision to strike down his student debt relief program. He acknowledges that a new approach is needed and announces a new path to provide debt relief to borrowers under the Higher Education Act. This new approach will take longer but aims to provide relief to as many borrowers as possible. In addition, he introduces a temporary 12-month on-ramp repayment program to help borrowers who may struggle with repayments. He emphasizes the importance of relieving student loan burdens for individuals and the economy and vows to continue fighting for borrowers. Despite Republican criticism, he states that student loan relief is necessary for those who have had to delay life milestones due to their debt. He concludes by reaffirming his commitment to using every tool available to provide the needed debt relief.

3.President Joe Biden responds to the Supreme Court's decision to strike down his proposal to erase billions of dollars in student loan debt. Biden expresses his frustration and believes that his plan would have provided relief for millions of Americans, allowing them to use the money for other purposes such as starting families or setting up businesses. He criticizes Republican officials for blocking his plans and accuses them of taking money away from the American people. Despite the setback, Biden mentions that he is considering alternative routes, such as utilizing the Higher Education Act and implementing a temporary 12-month payment program, to provide some relief to borrowers. He acknowledges that these alternative measures will take time to implement and emphasizes that he and his education secretary are actively working on the issue. Students who were protesting outside the Supreme Court also express their desire for more action from the White House.

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