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Newswire : SCOTUS strikes down Biden’s student loan forgiveness plan

The Supreme Court has blocked President Joe Biden’s ambitious student loan forgiveness program, which aimed to provide up to $20,000 in relief to millions of borrowers.

The decision comes as a blow to the Biden administration’s efforts to alleviate the burden of student debt on struggling individuals.
President Biden, determined to support student loan borrowers, plans to announce new actions during his upcoming address later today. The source reveals that while the White House strongly disagrees with the Supreme Court’s ruling, they had been preparing for such an outcome.
Considering the decision, the administration intends to emphasize to borrowers and their families that Republicans are responsible for denying them the much-needed relief that President Biden has been fighting to deliver.
The White House said it remains committed to its mission of easing the financial strain on Americans burdened by student loans. Democrats for Education Reform DC (DFER DC), an organization dedicated to improving education policies, issued a statement expressing disappointment in the Supreme Court’s ruling.
Jessica Giles, Executive Director of DFER DC, condemned the conservative justices for what she perceived as their alignment with Republican political interests.
Giles argued that the decision has not only disrupted the lives of over 40 million student loan borrowers but has also dealt a particularly devastating blow to Black Americans.
She asserts that the ruling will exacerbate the racial wealth gap, push numerous borrowers into financial hardship, and erode public trust in the Supreme Court.
In response to this setback, DFER DC urged Mayor Bowser and the D.C. Council to take proactive measures to expand existing programs aimed at reducing student loan debt and fixing the flaws within the higher education system.
The organization said it believes that local initiatives can help mitigate the negative impact of the Supreme Court’s decision and provide much-needed support to borrowers in the absence of federal relief.
President Biden’s student loan forgiveness program, with an estimated cost of $400 billion, was designed to offer significant relief to borrowers burdened by the weight of their student loans.
However, with the program now blocked by the Supreme Court, the administration will need to explore alternative avenues to address the pressing issue of student debt in the United States.
“This Court clearly has a self-imposed mandate to legislate from the bench. They have waged war on women, unions, Black and Brown Americans, the LGBTQ+ community, religious freedom, and democracy,” the Rev. Al Sharpton said in a statement.
“In the last two days, they have set their sights on college students to either block them from getting into elite institutions or put a financial albatross around their neck so they can’t succeed.
“We applaud President Biden’s commitment to following through on this campaign pledge, because millions of Black and Brown Americans are counting on it.”

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