Following the Supreme Court's rejection of his student loan forgiveness program, President Biden expressed his disappointment, stating that the court "misinterpreted the Constitution." He also revealed new initiatives to address student loan debt.

Speaking from the White House on Friday afternoon, President Biden criticized Republican officials for opposing his plan, which he argued would have provided much-needed relief to working and middle-class Americans. He accused them of "snatching" thousands of dollars in potential debt relief from millions of individuals.

President Biden at Joint Base Andrews in Maryland. (Andrew Caballero-Reynolds/ AFP)

Among the new measures announced by the administration is an income-driven repayment plan and a rule aimed at exploring alternative avenues for debt relief for a wide range of borrowers.

Chief Justice John Roberts, writing for the majority, explained that the Secretary of Education lacked the authority to cancel over $430 billion in student loan debt under the HEROES Act, as argued by the six states that brought the lawsuit. This decision effectively nullified the plan, which would have eliminated the debts of 20 million borrowers and significantly reduced the median amount owed by another 23 million.

The Supreme Court building. (AP Photo/J. Scott Applewhite, File)

Biden's original plan sought to forgive up to $20,000 in student loan debt for Pell Grant recipients and up to $10,000 for other federal student loan borrowers.

President Biden speaking at the White House. (AP Photo/Evan Vucc)

In a separate 6-3 ruling on the same day, the Supreme Court sided with web designer Lorie Smith, affirming her right to refuse to create websites for same-sex weddings, citing her Christian beliefs and free speech rights. Justice Neil Gorsuch emphasized that the First Amendment protects individuals' right to think and speak freely, without government coercion, and that tolerance, not compulsion, is the appropriate response.