Biden offers alternative student debt relief plan that would remove immediate threat of default
By WILL WEISSERT and COLLEEN LONG
Associated Press
WASHINGTON (AP) — President Joe Biden is offering an alternative student debt plan designed to ease borrowers’ threat of default if they fall behind on their payments. His announcement came hours after the Supreme Court struck down his original initiative. Biden on Friday blamed Republican opposition for triggering the Supreme Court’s ruling and slammed the decision as wrong. The president said he will work under the authority of the Higher Education Act to begin a new program that will resume loan-repayment requirements but remove the immediate threat of default. He said the plan would take longer but provide relief to millions of borrowers.
