WASHINGTON — President Joe Biden, under pressure from his political left, on Friday launched a new effort to salvage his plan to offer student loan relief to millions of borrowers after the Supreme Court struck down his first attempt.
Biden’s Plan B relies on the Higher Education Act of 1965 as a mechanism to allow the Department of Education to “compromise, waive or release loans under certain circumstances,” he said during a late-afternoon speech.
“Today’s decision has closed one path,” he said. “Now we’re going to pursue another (option). … We’ll use every tool at our disposal to get you the student debt relief you need.”
