California Rep. Ro Khanna praised President Biden’s efforts to formulate another student loan forgiveness plan for borrowers in his speech last Sunday.
California Rep. Ro Khanna (Photo: The Nation)
Rep. Ro Khanna On Biden’s ‘Plan B’ For Student Loan Forgiveness
After the Supreme Court strikes down his plan, Biden promised the public a ‘Plan B’ for the student loan forgiveness plan. Initially, Biden opted to launch a student loan forgiveness plan through the HEROES Act of 2003 but was shut down by the Supreme Court. Shortly after, Biden announced to formulate a ‘Plan B’ for the student loan forgiveness plan through the Higher Education Act of 1965.
Khanna told ABC News in an interview that he is glad that the Biden administration is turning to the Higher Education Act for the student loan forgiveness plan. While Khanna was praising Biden’s efforts in another shot at a student loan forgiveness program, he criticized the Supreme Court. Khanna stated that the Supreme Court “overstepped their bounds” by shutting down the initial student loan forgiveness plan made by Biden.
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Biden’s Backup Plan
Last Thursday, the Supreme Court argued that Biden did not have enough authority to launch such a program for student loan forgiveness under the HEROES Act. Under the bill, 40 million borrowers would have their federal student debts canceled, if it was approved.
Fortunately, Biden’s administration planned ahead in the event that Biden’s initial student loan forgiveness plan would not be passed, which explains Biden’s quick announcement for a ‘Plan B’ of the program. Last Friday, Biden announced that he would generate another student loan forgiveness plan with the help of Education Secretary Miguel Cardona. As of the moment, it is unclear how much debt would be canceled under Biden’s new plan.
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