President Biden on Wednesday vetoed a congressional resolution that would have struck down his loan-forgiveness program. The veto was expected.
The House and Senate passed the measure with overwhelming Republican support and modest Democratic support. There was not enough support for the resolutions to override Biden’s veto.
The Biden plan, currently on hold pending a Supreme Court review, would forgive $10,000 in student debt for borrowers earning up to $125,000 annually, or $250,000 for married couples. Recipients of Pell Grants are eligible for $20,000 in forgiveness.
“The demand for this relief is undeniable,” President Biden said in his veto message. “In less than four weeks—during the period when the student debt relief application was available—26 million people applied or were deemed automatically eligible for relief. At least 16 million of those borrowers could have received debt relief already if it were not for meritless lawsuits waged by opponents of this program.”
He concluded the message by saying, “I remain committed to continuing to make college affordable and providing this critical relief to borrowers as they work to recover from a once-in-a-century pandemic. Therefore, I am vetoing this resolution.”