United States President Joe Biden said on Friday he is "disappointed" and a "little bit angry" at the country's Supreme Court over its decision on his student loans forgiveness plan.
Biden announced his administration will now approach the matter through a "different path," which is "legally sound," in an effort to provide relief to as many borrowers as possible, but warned it will take longer. He noted Education Secretary Miguel Cardona will release loans to many borrowers under the Higher Education Act. Biden also announced the creation of a 12-month on-ramp repayment program, under which borrowers' credit won;t be harmed in case they miss payments.
Earlier in the day, the US Supreme Court blocked Biden's plan which would have seen up to $20,000 in student loan debts for around 43 million people written off. The court ruled the plan was unlawful because it was not approved by Congress.
