President Joe Biden on Friday vowed to continue working to reduce college loan debt for borrowers, despite an adverse Supreme Court ruling, by using a different law this time. “We’ll use every tool at our disposal to get you the student debt relief you need and meet your dreams.”AdvertisementThe debt relief plan struck Friday morning was based on a law passed in the aftermath of the Sept. 11, 2001, terrorist attacks and was designed to give then-President George W. Bush’s administration the ability to modify debt payments because of a national emergency. Biden is now turning to the Higher Education Act’s provisions for debt relief, which he acknowledged will take longer to get done than he had hoped. The court, though, ruled that Biden lacked the authority to simply cancel debt without Congress. Asked whether his decision to push ahead despite his misgivings had given borrowers false hope, Biden bristled at the question.

Source: Huffington Post June 30, 2023 22:03 UTC