Mr Biden said the court’s decision to strike down the student debt relief program was a mistake. Read more at straitstimes.com.
WASHINGTON - US President Joe Biden on Friday announced new measures to provide student loan relief to Americans and condemned the US Supreme Court for blocking a plan to cancel hundreds of billions of dollars in debt that was popular with his voters.
As part of the overall plan, the Education Department finalised a program to reduce payments that borrowers with undergraduate loans have to pay monthly to 5 per cent of discretionary income rather than 10 per cent, which the administration said would help them save US$1,000 a year. “The President has more tools to cancel student debt - and he must use them,” Democratic Senator Elizabeth Warren, a leading progressive voice, said on Twitter after the Supreme Court’s decision and before Mr Biden spoke.
About 53 per cent of Americans supported Mr Biden’s original student loan forgiveness program, while 81 per cent of Democrats did so, a Reuters/Ipsos poll showed this year.
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