Posted on 07/14/2023 6:40:08 AM PDT by ChicagoConservative27
The Biden administration has announced that it will provide $39 billion in total student debt relief for 804,000 borrowers, its latest step since President Biden’s student loan forgiveness plan was struck down by the Supreme Court.
The Education Department said on Friday that the relief is being provided on income-driven repayment plans, in which the federal government cancels remaining balances for the borrower after they have made their payments for 20 or 25 years.
The department said the “fixes” will more accurately count monthly payments that qualify under the plans, and it will notify borrowers who are eligible for the relief in the upcoming days.
The Supreme Court struck down Biden’s plan to give $10,000 of student debt relief to low- and middle-income borrowers and up to $20,000 for Pell Grant recipients in a 6-3 decision last month. The majority found that Congress had not directly authorized the president to forgive debts worth in aggregate hundreds of billions of dollars.
(Excerpt) Read more at thehill.com ...
Good memories.
After making payments. That's the clever little PR rub.
WTF?
This along with the Supreme Court ruling against Affirmative Action will be used to get minorities and women to vote Democrat.
I foolishly paid my tuition and expanses personally out of earnings.
I want reparations.
*People under 35 to vote Democrat.
Hahaha. So basically if you are in your 40/ or 50s and been paying for 25 or 30 years without missing a payment (I believe) they will forgive your balance?
So that means a bunch of higher income old folks are likely to get their debt forgiven… all you 20 and 30 somethings conned by this guy get nothing.
Great jobs buffons
BUYING VOTES
Congress spends the money
Excluding the Dim Party skimming of the funds, that is $48,500 for each of those people who have been paying for 20 or 25 years. Gender Studies degrees must be expensive.
Timing is everything. Better get the word out quickly and unrealistic expectations going again before Lucy pulls the football away after the election.
“I want reparations.”
You actually deserve reparations.
It's TIME to #DownSize_DC!
Restore the Constitution!Size DC!
Wow. Just like that.
No consequences. No protests. Not a whimper from Republicans.
Just.
Like.
That.
If you’re paying a loan off, with the exception of a home mortgage, why would you 20 to 25 years to do it? Especially knowing the loan will accrue interest.
Just in case some have forgotten, student loan were never intended to be long term debts. The way it was supposed to work was that a person could borrow money to pay for their education. The loans had low interest rates and low payments to allow students to attend college without having work at the same time. Once the student graduated, they could take their fancy new degree and get gainful employment - and get the loan paid off with all the money they would be making as a result of the degree.
So, apparently, college degrees don’t make you smart . . .
Must be an election coming up . . .
Perchance that will be the attempt, but the SC ruling will flummox that. It will be most interesting to follow this. "
Today, we have concluded that an instrumentality created by Missouri, governed by Missouri, and answerable to Missouri is indeed part of Missouri; that the words 'waive or modify' do not mean “completely rewrite”; and that our precedent— old and new—requires that Congress speak clearly before a Department Secretary can unilaterally alter large sections of the American economy. We have employed the traditional tools of judicial decision making in doing so. Reasonable minds may disagree with our analysis—in fact, at least three do.What remains in the moment is more public perception and politics, as the Biden (Obama)administration tries to continue the game after the game is essentially over.
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