After the U.S. Supreme Court blocked his widespread student loan forgiveness, President Joe Biden announced on Friday new measures his administration will take to help borrowers, including trying a new avenue for loan forgiveness and a temporary 12-month "on-ramp" repayment program.
In a speech from the White House, Biden said his administration will take another stab at student loan forgiveness, this time grounding the approach in a different law, the Higher Education Act. Biden's original plan used the HEROES Act as its legal basis, which the court struck down. The Supreme Court majority said the HEROES Act does not give the Biden administration the authority to modify payments to such a large extent, and that it's instead up to Congress.
