Supreme Court Ruling Impacts Biden's Student Loan Plan and Debt Relief Actions

President Biden and Vice President Harris are taking new actions to provide debt relief and support for student loan borrowers. The Secretary of Education has initiated a rulemaking process to open an alternative path to debt relief for working and middle-class borrowers, while the Department of Education has finalized the most affordable repayment plan ever created, cutting borrowers' monthly payments in half and allowing many to make $0 monthly payments. Additionally, the Department is implementing a 12-month "on-ramp" to repayment to protect financially vulnerable borrowers from the consequences of missed payments. These actions build on the administration's efforts to make college more affordable and manageable for students and have already included increases to Pell Grants, fixing broken loan programs, and approving loan cancellation for millions of borrowers.