US President Joe Biden speaks about the US Supreme Court’s decision on affirmative action, in the Roosevelt Room of the White House in Washington, DC, on June 29, 2023.Jim Watson | AFP | Getty ImagesWASHINGTON — The White House in a statement to NBC News said it strongly disagrees with the Supreme Court’s ruling against federal student loan relief but still intends to assist borrowers.The Supreme Court ruled Friday in a 6-3 decision against President Joe Biden’s plan to cancel up to $20,000 in student loan debt per borrower. The venture would have aided an estimated 40 million Americans and forgiven more than $400 million in student loan debt, making it one of the most expensive executive actions in history.Biden will deliver remarks Friday and “announce new actions to protect student loan borrowers.”He’s likely to also criticize the Supreme Court in his remarks, expanding on comments he made Thursday in response to the court’s decision rejecting the use of affirmative action in college admissions. Asked if it was a “rogue court,” Biden told reporters “it’s not a normal court.”Speaking on MSNBC’s “Deadline: White House” later Thursday, Biden said the current Supreme Court has “done more to unravel basic rights and basic decisions than any court in recent history.””I think that some on the court are beginning to realize that their legitimacy is being questioned in ways that it hasn’t been questioned in the past,” the president said.CNBC PoliticsRead more of CNBC’s politics coverage:The ruling Friday places millions of student loan borrowers back at square one as the payments pause instituted at the beginning of the Covid pandemic comes to a close in October. During the pause, implemented under the Trump administration, borrowers did not have to make payments on their loans nor did the loans accrue interest.Last summer Biden announced his plan to cancel $10,000 in student debt for borrowers earning less than $125,000 or married couples earning under $250,000. Pell grant recipients were eligible for up to $20,000 in forgiveness under the proposal.This is breaking news. Please check back for updates.
