Advocates for student debt relief look into additional ways President Joe Biden might accomplish his aim while thousands of Americans patiently wait for the Supreme Court’s ruling on student loan forgiveness.
Biden and the Secretary of Education utilized the power provided by the 2003 Heroes Act to prevent student loan funds throughout the pandemic because it was a national crisis. They then proposed a comprehensive plan for student loan forgiveness, under which many Americans could get $10,000 to $20,000 of their debt forgiven, whereas some could have all of their debt canceled.
However, when the court breaks for the summer, the Supreme Court could prevent loan forgiveness. Advocates for those with student loan debt look into other options as the country waits for the ruling. A further path to student loan forgiveness may be made available under the Higher Education Act, which Lyndon B. Johnson, the president at the time, passed through law in 1965.
The Education Secretary is given the authority by legislation to “compromise, waive, or forgive” federal student debts. The HEA does not require a national emergency, in contrast to the Heroes Act, to give the president and education secretary the authority to erase the debt.