President Biden is addressing the nation Friday afternoon after the Supreme Court struck down his student loan relief program in a 6-3 decision that upended a key campaign promise.
The president said in a statement reacting to the ruling that he will lay out"more detail on all that my Administration has done to help students and the next steps my Administration will take" in the wake of the court's decision, which invalidated his administration's plan to provide up to $20,000 in debt relief to federal student loan borrowers.
But this time, the court ruled against a policy that Mr. Biden himself promised and unilaterally executed. Last August, the president and Education Secretary Miguel Cardona announced the Biden administration would forgive $10,000 in student loans for those earning less than $125,000 annually, and another $10,000 in student loans for those who attended college on Pell Grants.
A source inside the White House said that the administration was prepared for this outcome. The president learned of the decision from senior aides, and has been meeting with his team since the ruling came down.
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