President Biden is vowing to forge ahead with his plan to forgive billions of dollars in student loans, just months ahead of his expected 2024 presidential election rematch with Donald Trump. Despite the U.S. Supreme Court previously serving as a roadblock for such handouts to loan borrowers, the president is again vowing to forgive the borrowed sums.
In Feb., Biden announced the Savings on Valuable Education plan and asserted that the Supreme Court would not stop him from canceling student debt. The plan cancels debt for enrolled borrowers who have been in repayment for at least 10 years and hold $12,000 or less in student loan debt. Those with larger debts will receive relief after an additional year of payments for every additional $1,000 they borrowed.
Biden said at the time that his administration would continue to push for relief for students. Fox News’ Lindsay Kornick contributed to this report.