Biden announces student loan ‘On Ramp’ program and denies giving borrowers ‘false hope’

President Joe Biden announced new actions aimed at extending debt relief to student loan borrowers after the Supreme Court struck down his plan to erase more than $400 billion in debt for those same borrowers.

The Supreme Court issued a 6-3 ruling blocking Biden’s plan Friday morning. The decision comes ahead of the end of a three-year pause on student loan payments due to the coronavirus pandemic.

During remarks delivered Friday at the White House, the president outlined what he has done to address student loan debt, including increasing Pell Grants, wide-scale loan forgiveness for teachers, firefighters, and other essential workers, and restructuring debt repayment plans.