President Biden faced criticism from a reporter on Friday regarding his student loan forgiveness plan, which was recently overturned by the Supreme Court. The reporter questioned why the president had given “millions of borrowers false hope.”
In response, President Biden clarified that he did not provide false hope, but rather considered going beyond the requested actions. He expressed disappointment that the Republican opposition had dashed the hope that was present.
When asked if he had overstepped his authority, President Biden stated that he believed the court had misinterpreted the Constitution. He then left the Roosevelt Room without further elaboration.
The Supreme Court’s conservative majority deemed Biden’s loan relief plan unconstitutional, arguing that he and Education Secretary Miguel Cardona could not rewrite a 2003 law intended for veterans of the Iraq and Afghanistan wars. Chief Justice John Roberts emphasized that the issue at hand was not whether something should be done, but who had the authority to do it.
Biden’s plan aimed to forgive up to $10,000 in federal student loans for individuals earning under $125,000 and households earning under $250,000, with additional relief for Pell Grant recipients. The president claimed that the money was ready to be distributed but was halted by Republican officials and special interests. He compared the student loan relief to the Paycheck Protection Program, highlighting the hypocrisy of the opposition.
President Biden expressed his disagreement with the Supreme Court’s decision, deeming it a mistake. He announced his intention to utilize the Higher Education Act of 1965 to provide debt relief to borrowers swiftly. Additionally, he planned to introduce a 12-month “on-ramp” program to defer bills based on income when federal student loan repayments resume in October.
Republican lawmakers, including Senate Health, Education, Labor and Pensions Committee Chairman Bill Cassidy and House Education and the Workforce Committee Chairwoman Virginia Foxx, criticized President Biden’s actions. They argued that he was unlawfully bypassing Congress and transferring debt to individuals who had not attended college or diligently paid their loans. They further claimed that his repayment pause extension and pursuit of blanket loan forgiveness were illegal and fiscally irresponsible. CLICK HERE TO WATCH THE VIDEO.