U.S. President Joe Biden plans to announce on Wednesday that his administration has approved an additional $9 billion in student debt relief for 125,000 borrowers, the White House said.

U.S. President Joe Biden plans to announce on Wednesday that his administration has approved an additional $9 billion in student debt relief for 125,000 borrowers, the White House said.

Biden has said he will pursue new measures to provide student loan relief to Americans after the Supreme Court blocked his plan to cancel hundreds of billions of dollars in debt.

The president's announcement, planned for 1 p.m. EDT at the White House, will bring the total approved debt cancellation by the Biden administration to $127 billion for nearly 3.6 million Americans, the White House said.

  • phillaholic@lemm.ee
    174·
    1 year ago

    He could’ve issued executive order to cancel all student debt

    This isn't universally true, and he's said as much in many statements. Unlike the last administration, he's having his lawyers review what can and can't be done knowing that the courts are going to challenge everything he does and given their current slant won't be kind to anything he does.

    https://sc.edu/uofsc/posts/2023/03/conversation_loans.php

    https://www.politifact.com/article/2021/jun/14/can-student-loan-debt-be-canceled-presidents-execu/

    • TheAndrewBrown@lemm.eeEnglish
      111·
      1 year ago

      Also, aren’t executive orders still subject to Supreme Court rulings? What would stop them from just overruling it again?

      • phillaholic@lemm.ee
        121·
        1 year ago

        Nothing would stop them. He’s an experienced Politician that’s not giving up. He doesn’t get enough credit where it’s due.

        • whofearsthenight@lemm.eeEnglish
          3·
          1 year ago

          This is democrats since I've been alive. Reagan and Bush create wars and economic disasters, Clinton turns it around. Repeat for Bush Jr and then Obama who had to turn us around from the financial crisis beta. Trump comes in, completely mismanages a pandemic even though there was a literal playbook left for him, tanks the economy, and now Biden has to get it back on track and by objective measures is doing so. And then we have the continued pain points of things like high grocery prices that we're all still really feeling that are again the result of Trump's disastrous handling of the pandemic which basically gave these people an excuse to jack prices up as high as they wanted. Note how very few things have rebounded to pre-pandemic, and corp profits are at an all time high.

          There is legitimately not an economic argument to be made for republicans unless you're a billionaire.

          • phillaholic@lemm.ee
            3·
            1 year ago

            Not to mention intentionally creating legislation that falls apart financially after they assume a Democrat will come into power that they can immediately blame.