Following the Supreme Court's decision to block his student loan forgiveness program, President Biden engaged in a tense exchange with Fox News reporter Jacqui Heinrich. Heinrich questioned the President about providing "false hope" to borrowers, referencing Biden's previous remarks expressing uncertainty about his authority to enact such a plan without Congressional approval. The President refuted the notion of offering false hope, stating, "I didn't give any false hope. The question was whether or not I would do even more than was requested. What I did, I thought was appropriate and was able to be done and would get done." He further placed the blame on Republicans for "snatching away" the hope provided to borrowers.

The Supreme Court's 6-3 ruling determined that the HEROES Act does not grant the Secretary of Education the authority to cancel over $430 billion in student loan debt. Chief Justice John Roberts, writing for the majority, emphasized that the plan would have eliminated the debt of 20 million borrowers and significantly reduced the debt burden for another 23 million. The Court's decision cited previous statements by former House Speaker Nancy Pelosi, who had also questioned the President's authority on this matter.

The HEROES Act, as envisioned by the Biden administration, aimed to provide up to $10,000 in debt relief for individuals earning less than $125,000 annually, with Pell Grant recipients eligible for up to $20,000. Prior to the Supreme Court's intervention, 16 million applications had been received. Republicans consistently opposed the plan, citing concerns about its cost to taxpayers, estimated at $400 billion by the Congressional Budget Office, and its perceived unfairness to those who had already repaid their loans or chosen not to attend college. Despite the setback, President Biden affirmed his commitment to pursuing alternative avenues for student loan relief.