President Biden’s Remarks on the Supreme Court’s Decision on Student Debt Relief
On Friday, June 30, the Supreme Court ruled against millions of Americans, blocking the Biden-Harris Administration’s Student Debt Relief Program in Department of Education v. Brown and Biden v. Nebraska. This program would have provided much needed relief for millions of Americans crushed by unrelenting student debt. Nonetheless, President Biden and Vice President Harris will not let Republican elected officials succeed in denying hard-working Americans the relief they need.
In light of the Supreme Court’s ruling, President Biden and his Administration announced two steps it is taking immediately to continue moving towards student debt relief for as many borrowers as possible as quickly as possible:
- The Secretary of Education initiated a rulemaking process aimed at opening an alternative path to debt relief for as many working and middle-class borrowers as possible, using the Secretary’s authority under the Higher Education Act.
- The Department of Education (Department) finalized the most affordable repayment plan ever created, ensuring that borrowers will be able to take advantage of this plan this summer—before loan payments are due.
Additionally, the Department is instituting a 12-month on-ramp to repaying, running from October 1, 2023 to September 30, 2024, so that financially vulnerable borrowers who miss monthly payments during this period are not considered delinquent, reported to credit bureaus, placed in default, or referred to debt collection agencies.
These actions reflect the President’s belief that an education beyond high school should be a ticket to the middle class. It also builds on the unprecedented steps President Biden and his Administration have taken to make college more affordable for working and middle-class families and make federal student loans more manageable. No President has fought harder for student debt relief than President Biden, and he’s not done fighting.
