U.S. President Joe Biden announces new actions to protect the borrowers after the Supreme Court ruling down the cancellation of student debt loans.
U.S. President Joe Biden’s new actions to continue student debt relief. (INQUIRER.NET)
What is the Higher Education Act and the Rule-Making Process?
President Lyndon B. Johnson signed the Higher Education Act in 1965. It grants the Department of Education the power to strengthen the educational resources of colleges and universities. More of the provisions can be read in Section IV of HEA.
What is the next Plan of U.S. President Joe Biden?
U.S. President Joe Biden unveiled Plan B in a different law (HEA) with little details. The White House stated in the press briefing call “It will take several months”. Borrowers will now prepare themselves for the payments to resume suggested by the Department of Education.
The National Economic Council stressed that the borrowers of the student debt loan need to pay because of the interest will be accruing. The Deputy Director emphasized to borrowers that if they do not pay they will not be credited for any programs.
The Department of Education is now analyzing the ruling of the Supreme Court. The Deputy Director of Council stated that it might be frustrating for the student debt loan borrowers if the Biden-Harris administration cannot provide information. However, the administration encouraged the borrowers to visit StudentAid.Gov to gather more details about the available programs for the borrowers.
How Advocates React To President’s Biden New Plan?
Supporters of student debt forgiveness demonstrate outside the US Supreme Court (ABC NEWS)
After the Supreme Court ruling about the student debt loan, the advocates welcome Biden’s announcement as they issue relief swiftly. The National Director of NAACP’s Youth & College Division, Wisdom Cole stated that the student debt loan borrowers have to resume the payment without the cancellation of the student debt loan will have a big impact on the “Black household”. He also added that as the White House goes through its own process the NAACP’s policy and legal team will work on their own strategies.
