According to the White House, US President Joe Biden will announce fresh initiatives Wednesday to assist persons harmed by the Supreme Court’s cancellation of his student loan forgiveness program.
Biden will announce $9 billion in debt relief for 125,000 individuals, the latest in a string of announcements this week by the Democrat as he seeks re-election in 2024.
The statement comes as rival Republicans sink into bitter internal turmoil, dismissing their own House Speaker Kevin McCarthy in a historic move on Tuesday.
“President Biden has long believed that college should be a ticket to the middle class — not a burden that weighs on families,” a White House official said.
Repayments on federal student loans, which total more than $1.6 trillion in the United States, resumed in October after a delay created by the Covid epidemic and the financial hardship it generated.
This came after the conservative-dominated Supreme Court rejected Biden’s ambitious plan to eliminate more than $400 billion in student debt in June.
Biden quickly announced at the time that he would repackage his student loan relief program.
The Supreme Court, which includes three judges nominated by Biden’s potential 2024 opponent, Donald Trump, has shifted drastically to the right in recent years, most notably with the monumental rejection of the federal right to abortion last year.