President Joe Biden's new student loan debt forgiveness plan is "legally available," says Bharat Ramamurti, deputy director of the National Economic Council.
The Supreme Court earlier Friday blocked Biden's plan to cancel $430 billion in student loan debt — a move that had been intended to benefit up to 43 million Americans and fulfill a campaign promise.
The Democrat president denounced the 6-3 decision — powered by the court's conservatives and written by Chief Justice John Roberts — and announced fresh steps to provide relief for student loan borrowers using a different approach.
Biden's new plan is grounded in the Higher Education Act, which White House officials say is more likely to hold up against the "major questions doctrine," a judicial approach that gives judges broad discretion to invalidate executive agency actions of "vast economic and political significance" unless Congress clearly authorized them in legislation.
"From where it stands now, we think the … Higher Education Act pathway that we talked about today is going to be a valid pathway that conforms with the major questions doctrine issue that the Supreme Court raised today," said Ramamurti.
This pathway is the "fastest way to provide relief," he added.
"That's what we're going with now. We think it's legally available."
Student debt relief advocates are focused on one part of the Higher Education Act they say allows the Department of Education to "compromise, waive, or release" any right to collect on student debt.
Biden in a press briefing denounced the court's decision.
"I believe the Supreme Court's decision to strike down student debt relief was a mistake, it was wrong," he said.
"It will take longer, but it's the best path that remains," he added. "We're not going to waste any time on this."