Biden to announce next steps on student loans after Supreme Court rejects forgiveness plan

“This fight is not over,” Biden said in a statement. “I will stop at nothing to find other ways to deliver relief to hard-working middle-class families. My administration will continue to work to bring the promise of higher education to every American.”

The high court’s decision Friday means that the White House won’t move forward with the plan for now, though it’s possible officials could try to launch a new version of the debt-forgiveness initiative using a different legal authority.

Also read: The Supreme Court just blocked student-loan cancellation. Here’s what happens next for your loans.

And: ‘This fight is not over’: Advocates push Biden to use other tools to cancel student debt

As MarketWatch’s Jillian Berman wrote, advocates and some lawmakers are pressuring the White House to find another way to cancel student debt en masse.

Advocates have been especially focused on one plank of the Higher Education Act they say allows the Department of Education to “compromise, waive, or release” any right to collect on student debt.

Jillian Berman contributed to this story.