Jean-Pierre: Today we announced that the Biden/Harris administration cancelled student debt for an additional a hundred and sixty thousand people, meaning 4.75 million Americans have now benefited from our debt relief actions, receiving, on average, thirty-five thousand dollars in debt relief each…[Biden] will never stop working to provide some more breathing room for Americans, no matter how many times republican elected officials try to stop him.

[and even when the Supreme Court tries to stop him]

Jean-Pierre: The student loan piece is one part of [Biden's] economic policy, and [Biden] is not going to step away from it. He's not going to back down because he believes it's the right thing to do.

Reporter: Does the administration think that student debt cancellation contributes to inflation?

Jean-Pierre: What we believe is student debt cancellation gives an opportunity for Americans to start a life, to buy a house, to start a family. That adds to the economy.