We will ground this new approach in a different law than my original plan. The so-called Higher Education Act that will allow Secretary Cardona who was with me today to compromise, waive, or release loans under certain circumstances. This new path is legally sound. It is going to take longer, and in my view, it is the best path that remains to providing for as many borrowers as possible with debt relief.
President Biden discusses his plan to work around the Supreme Court's decision blocking his student loan forgiveness program.
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