Joe Biden to Announce New Plan on Student Loans After Supreme Court Strikes Down His Bailout Program

Joe Biden will announce a new plan on student loans after the US Supreme Court crushed his unconstitutional forgiveness plan.

Joe Biden unilaterally announced a massive forgiveness of student loans last August to buy the Gen Z-Millennial vote in the 2022 midterms.

Biden canceled over $400 billion in student loans which turns out to be up to $10,000 in student debt for borrowers who earn $125,000 a year or less and up to $20,000 for recipients of Pell Grants.

Six Republican state attorneys general sued Joe Biden (Biden v Nebraska) and argued the student loan bailout violates the separation of powers.

Separately, two borrowers who did not qualify for Joe Biden’s student loan forgiveness plan (Department of Education v Brown) sued to stop the program.

The Supreme Court ruled 6-3 in Biden v Nebraska that Joe Biden’s student loan forgiveness was unlawful.

Biden said he’s not done fighting for student loan borrowers.

The Hill reported:

President Biden on Friday will announce new actions to protect student loan borrowers following the Supreme Court ruling that struck down his student debt relief plan, according to a source within the White House.

“While we strongly disagree with the court, we prepared for this scenario. The President will have more to say today,” the source told The Hill. “The President will make clear he’s not done fighting yet, and will announce new actions to protect student loan borrowers.”

The president will also make “crystal clear” to student loan borrowers that “Republicans are responsible for denying them the relief that President Biden has been fighting to get to them,” according to the source.