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Biden reveals ‘new path’ to student debt relief after Supreme Court strikes down president’s plan
Biden reveals ‘new path’ to student debt relief after Supreme Court strikes down president’s plan
After the US Supreme Court struck down his administration’s plan to cancel federal student loan debts for millions of Americans, President Joe Biden has unveiled a “new path” for relief, one that he assured is “legally sound” but will “take longer”. In remarks from the White House on 30 June, the president hit out at Republican state officials and legislators who supported the lawsuit which enabled the nation’s highest court to strike down his student debt forgiveness initiative, accusing many of them of hypocrisy for taking money from pandemic-era relief programs while opposing relatively meager relief for student loan borrowers. “Some of the same elected Republicans, members of Congress who strongly opposed relief for students, got hundreds of thousands of dollars themselves ... several members of Congress got over a million dollars — all those loans are forgiven,” he said. “The hypocrisy is stunning,” he said. Accompanied by Secretary of Education Miguel Cardona, Mr Biden opened his remarks by acknowledging that there are likely “millions of Americans” who now “feel disappointed and discouraged or even a little bit angry about the court’s decision today on student debt”. “And I must admit, I do too,” he said. Still, Mr Biden reminded Americans that his administration has previously taken actions to reform student loan repayment programs to make them easier to access, and to keep borrowers from spending more than five per cent of disposable income on monthly repayments, and to strengthen loan forgiveness options for borrowers who take public service jobs. The president has directed Mr Cardona to “find a new way” to grant similar loan relief “as fast as we can” in a way that is “consistent” with the high court’s decision. On Friday, the Education Department issued the first step in the process of issuing new regulations under this so-called “negotiated rulemaking” process. In the mean time, Mr Biden said his administration is creating a temporary year-long “on-ramp repayment programme” under which conditions will remain largely the same as they have during the three-year pandemic-era pause in payments which is set to expire this fall. The department’s 12-month “on ramp” to begin repayments, from 1 October through 30 September, aims to prevent borrowers who miss repayments in that time period from delinquency, credit issues, default and referral to debt collection agencies. “During this period if you can pay your monthly bills you should, but if you cannot, if you miss payments, this on-ramp temporarily removes the threat of default,” he said. “Today’s decision closed one path. Now we’re going to pursue another — I’m never gonna stop fighting,” the president continued, adding that he will use “every tool” at his disposal to get Americans the student debt relief they need so they can “reach [their] dreams”. “It’s good for the economy. It’s good for the country. It’s gonna be good for you,” he said. Asked by reporters whether he’d given borrowers false hope by initiating the now-doomed forgiveness plan last year, Mr Biden angrily chided the GOP for having acted to take away the path to debt relief for millions. “I didn’t give any false hope. The question was whether or not I would do even more than was requested. What I did I felt was appropriate and was able to be done and would get done. I didn’t give borrowers false hope. But the Republicans snatched away the hope that they were given and it’s real, real hope,” he said. The Supreme Court’s 6-3 ruling from the conservative majority argues that the president does not have the authority to implement sweeping relief, and that Congress never authorised the administration to do so. Under the plan unveiled by the Biden administration last year, millions of people who took out federally backed student loans would be eligible for up to $20,000 in relief. Borrowers earning up to $125,000, or $250,000 for married couples, would be eligible for up to $10,000 of their federal student loans to be wiped out. Those borrowers would be eligible to receive up to $20,000 in relief if they received Pell grants. Roughly 43 million federal student loan borrowers would be eligible for that relief, including 20 million people who stand to have their debts cancelled completely, according to the White House. Lawyers for the Biden administration contended that he has the authority to broadly cancel student loan debt under the Higher Education Relief Opportunities for Students Act of 2003, which allows the secretary of education to waive or modify loan provisions following a national emergency – in this case, Covid-19. Since March 2020, with congressional passage of the Cares Act, monthly payments on student loan debt have been frozen with interest rates set at zero per cent. That pandemic-era moratorium, first enacted under Donald Trump and extended several times, was paused a final time late last year. Over the last decade, the student loan debt crisis has exploded to a balance of nearly $2 trillion, most of which is wrapped up in federal loans. The amount of debt taken out to support student loans for higher education costs has surged alongside growing tuition costs, increased private university enrollment, stagnant wages and GOP-led governments stripping investments in higher education and aid, putting the burden of college costs largely on students and their families. Read More Supreme Court strikes down Biden’s plan to cancel student loan debts Supreme Court strikes down affirmative action, banning colleges from factoring race in admissions Biden condemns Supreme Court striking down affirmative action: ‘This is not a normal court’ Justice Ketanji Brown Jackson delivers searing civil rights lesson in dissent to affirmative action ruling
2023-07-01 04:41
Promising defender Lewis Hall joins Newcastle on season-long loan from Chelsea
Promising defender Lewis Hall joins Newcastle on season-long loan from Chelsea
Lewis Hall has joined Newcastle on a season-long loan from Chelsea with the option for a permanent deal for the defender. The clubs have been in negotiations over a move for the 18-year-old academy graduate since last week, with Eddie Howe’s side having come in with an initial offer of £28million. The PA news agency understands that should Newcastle choose to make the deal permanent in a year’s time, the deal will include an additional £7m in possible add-ons plus a sell-on fee owed to Chelsea should he later depart. Hall agreed a new six-year contract to stay at Stamford Bridge earlier in August but Newcastle’s interest has persuaded the Blues to part company with a player who made 11 first-team appearances last season, including nine in the Premier League. In a difficult season for the club, the teenager’s integration into the senior set-up was one of a few bright spots, with one of his most impressive performances coming against his new side in a 1-1 draw on the last day of the season. His first start had come in a 1-0 defeat at St James’ Park in November, playing 73 minutes before being substituted, and after impressing interim boss Frank Lampard he went on to start in each of Chelsea’s final four games of the season. He first joined the club aged eight and progressed through the academy set-up before making his first-team debut under former manager Thomas Tuchel in a 5-1 win against Chesterfield in the FA Cup third round in January 2022 aged just 17, making him the youngest player to appear for the club in the competition. During Chelsea’s injury crisis that struck immediately following last year’s World Cup he was pressed into action as an emergency midfielder, enduring a difficult game as the team were dumped out of the FA Cup 4-0 by Manchester City in January. He becomes Newcastle’s fifth singing of the season as they prepare to make their first appearance in the Champions League since 2003. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live
2023-08-22 17:58
Who owns Chipotle? Restaurant chain faces federal lawsuit as Kansas manager is accused of ripping off employee's hijab
Who owns Chipotle? Restaurant chain faces federal lawsuit as Kansas manager is accused of ripping off employee's hijab
The lawsuit demands Chipotle institute policies that provide equal employment opportunities for employees of all religions
2023-10-01 19:51
Indonesia proposes demilitarised zone, UN referendum for Ukraine peace plan
Indonesia proposes demilitarised zone, UN referendum for Ukraine peace plan
By Kanupriya Kapoor SINGAPORE (Reuters) -Indonesia's defence minister on Saturday proposed a peace plan to end the war in Ukraine,
2023-06-03 18:45
How to Get MLB The Show 22 Milestone Albert Pujols
How to Get MLB The Show 22 Milestone Albert Pujols
Here's how to get the free MLB The Show 22 Milestone Albert Pujols card celebrating him joining the 700 home run club.
1970-01-01 08:00
The Whiteboard: NBA award predictions, grading last-minute rookie extensions
The Whiteboard: NBA award predictions, grading last-minute rookie extensions
Today on The Whiteboard — NBA award picks, grading rookie extensions, the latest on Giannis and more.
2023-10-24 21:27
New York City police commissioner, first woman to lead department, resigns after 18 months
New York City police commissioner, first woman to lead department, resigns after 18 months
New York City Police Commissioner Keechant Sewell is stepping down after 18 months on the job
2023-06-13 05:39
China sends first civilian astronaut to space as Shenzhou-16 blasts off
China sends first civilian astronaut to space as Shenzhou-16 blasts off
China sent its first civilian astronaut into orbit on Tuesday, as it launched the Shenzhou-16 mission to its space station for its second in-orbit crew rotation, marking another step forward for the country's ambitious space program.
2023-05-30 09:34
How to unblock BBC iPlayer for free from anywhere in the world
How to unblock BBC iPlayer for free from anywhere in the world
SAVE 49%: Unblock BBC iPlayer from anywhere in the world with ExpressVPN. A one-year subscription
2023-05-26 11:50
Biden heads to Arizona, other Western states to tout his economic policies
Biden heads to Arizona, other Western states to tout his economic policies
By Andrea Shalal WASHINGTON U.S. President Joe Biden will travel to the key battleground state of Arizona and
2023-07-31 20:41
Minneapolis advances measure for minimum wage to Uber and Lyft drivers
Minneapolis advances measure for minimum wage to Uber and Lyft drivers
Minneapolis City Council members have narrowly passed a measure that would establish a minimum wage for Uber and Lyft drivers
2023-08-18 01:24
Discontinued 'Allan dolls' selling for huge amounts on eBay after Barbie release
Discontinued 'Allan dolls' selling for huge amounts on eBay after Barbie release
Michael Cera's Allan in Barbie has certainly made a mark, with resales of the discontinued doll reaching hundreds of dollars. In the film that broke records over the weekend, "Just Allan" plays a lonesome sidekick who instantly became a hit with viewers. One cinema-goer poignantly shared how Cera's character shows "how outnumbered the Allans of the world are. There was only one of him and thousands of Kens." TikToker Gigi continued: "I feel like that would be how it feels for a nice guy to live in this current world. The guy that is genuine but gets overlooked or questioned because his behaviours seem too good to be true, in a world that's outnumbered by Kens." Well now, Allan dolls are cropping back up years later after being discontinued, with thanks to Barbie no doubt. Sign up for our free Indy100 weekly newsletter According to TMZ, most Allan dolls were retailing for around $35-$76 last week. Fast forward to this week, and some eBay listings are reaching at least $150. One is even selling at $500. Allan was first released as Ken's best friend back in 1964. His selling point was that he could fit into all of Ken's clothes, according to History. However, he was later discontinued with rumours that he and Ken appeared too close. Allan was later re-released, dropping one 'l' from his name as Alan, and reintroduced as Midge's husband (a pregnant Barbie doll) in the 90s. Cera has since opened up about his character, saying: "Allan is sort of like a person without a group that he belongs to, he’s kind of a loner, in a way." He continued: "I think the joke about that, at least how I interpret it, is that Allan the doll ... didn’t have a very successful run. [He’s] sort of this marginalised person in this world of Kens.” Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.
2023-07-26 18:04