Biden to find alternative approaches for student loan forgiveness following Supreme Court setback

President Joe Biden announced on Friday that he intends to pursue student loan debt cancellation through an alternative legal authority after the Supreme Court blocked his original plan.

Biden stated that his administration will seek to forgive student loan debt using the authority provided by the Higher Education Act of 1965.

He expressed confidence in the legality of this approach while acknowledging that it may take longer to implement.

The President instructed his administration to proceed as quickly as possible within the confines of the law. Shortly after the court's ruling, Education Secretary Miguel Cardona initiated the regulatory process under the Higher Education Act.

Biden emphasized his commitment to delivering relief to borrowers, especially those who are economically disadvantaged, despite the setback caused by the court's decision.