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Biden administration announces $39 billion in student debt relief for 804,000 borrowers
The Hill ^ | 07/14/2023 | Jared Gans

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 ...


TOPICS: Business/Economy; Culture/Society; Front Page News; Government; News/Current Events
KEYWORDS: biden; debit; relief; student
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To: ChicagoConservative27

Mrs. rktman would like her money back from paying off her student ‘debt’ from 35 yrs ago. Crickets. Hey. How about the institutes pay the money back.


21 posted on 07/14/2023 7:03:11 AM PDT by rktman (Destroy America from within? Check! WTH? Enlisted USN 1967 to end up with this💩? 🚫💉)
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To: Paul46360

Bingo!


22 posted on 07/14/2023 7:06:56 AM PDT by Beowulf9
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To: ChicagoConservative27

Why not? He’s already told America to screw off re wetbacks, inflation, energy production, etc. He’s a stupid fool with a kamikaze mentality.


23 posted on 07/14/2023 7:07:01 AM PDT by LouAvul (Daniel 4:17: "..the most High ruleth in the kingdom of men, and giveth it to whomsoever He will.." )
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To: ChicagoConservative27

I want my money back too. I never realized that it was “racist” and stupid to actually pay back a loan I signed for.


24 posted on 07/14/2023 7:07:24 AM PDT by Agatsu77
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To: ChicagoConservative27

I listened to the debate in the Senate when they discussed how they were going to finance the large fixed benefit retirement programs for government workers when private companies were doing away with those same programs. They decided that since student loans had a spectacular repayment record, they’d use those instead of raising taxes. To make the program work they’d have to limit or eliminate private loans for college payment. Another thing they’d have to do is make those loans unforgivable in bankruptcy. That was because, at the time, if a student had loans for, say a non-stem degree that was the first thing forgiven by a judge since a non-stem degree had no value towards repaying the student’s other obligations. You can buy too much car and it will be forgiven. The same with a house, a boat or even medical bills. But a judge is forbidden to forgive student debt because that debt is used to pay the retirement of government workers...the judges, for example.

I believe this is why no plan to forgive student debt will ever be legitimately passed as a bill. To do so would unfund the retirement programs of the people passing said bill. The president can pose and talk but it’s unlikely any substantial debt relief will take place.

At the time this was all planned nobody had ever heard of a doctorate in gender studies. Like anything government does the takeover of student loans had unintended consequences.


25 posted on 07/14/2023 7:09:41 AM PDT by Gen.Blather (Wait! I said that out loud? )
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To: ChicagoConservative27

The Deadbeat Generations sticks it to Americans who have to pay their bills. This is a disgrace. It’s how the Democrazies get elected. Spend trillions of taxpayer dollars on those who will vote for them.


26 posted on 07/14/2023 7:09:52 AM PDT by FlingWingFlyer (No more new laws until we start enforcing the crap we already have!)
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To: ShadowAce
They were good. Growing up surrounded by vets from WW2, in a culture of law and order, the criminal minorities afraid to go too far where "the Man" was concerned, etc.

I didn't realize how good I had it. I was distracted by people telling me what to do. "Sit up straight!" "Eat your brussel sprouts!" "Do your homework!"

But it was a good time to be a boy in America.

27 posted on 07/14/2023 7:11:32 AM PDT by LouAvul (Daniel 4:17: "..the most High ruleth in the kingdom of men, and giveth it to whomsoever He will.." )
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To: ChicagoConservative27

If these people can’t pay their bills, this money was wasted sending them to “college”. Most of them are Starbuck baristas and Uber drivers.


28 posted on 07/14/2023 7:11:39 AM PDT by FlingWingFlyer (No more new laws until we start enforcing the crap we already have!)
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To: Liberty Ship

I did, as well.


29 posted on 07/14/2023 7:14:22 AM PDT by ought-six (Multiculturalism is national suicide, and political correctness is the cyanide capsule. )
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To: AnotherUnixGeek
"Working class folks who didn't go to college and have been paying interest on the washer/dryer set they bought right after 9/11 can go pound sand - the Democrats don't care about them."

Agreed.

Yet, far too many of those same working class folks will keep voting (D).

30 posted on 07/14/2023 7:14:53 AM PDT by rxsid (HOW CAN A NATURAL BORN CITIZEN'S STATUS BE "GOVERNED" BY GREAT BRITAIN? - Leo Donofrio (2009))
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To: ChicagoConservative27

What is so damn special about that debt? What about medical debt or mortgage debt or I owe my bookie 10 g bet.


31 posted on 07/14/2023 7:16:41 AM PDT by lastchance (Cognovit Dominus qui sunt eius.)
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To: ChicagoConservative27

Just another clever idea from the Biden handlers in an attempt to buy votes.


32 posted on 07/14/2023 7:27:37 AM PDT by antidemoncrat (AS )
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To: ChicagoConservative27

I wish we had rule of law.


33 posted on 07/14/2023 7:27:58 AM PDT by dinodino ( )
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To: Liberty Ship
The Army paid my tuition for my bachelors degree in accounting. Instead of Finance Corps, they put me in Air Defense Artillery. Actually, I got the better end of the deal: 4 years in Germany, all on AF bases, lived in an apartment near the Mosel River, put my degree to good use as Battalion Supply Officer (S-4).

I feel the pain of those like you who did things the right way.

34 posted on 07/14/2023 7:29:47 AM PDT by Night Hides Not (Remember the Alamo! Remember Goliad! Remember Gonzales! Come and Take It!)
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To: LouAvul

I hate brussel sprouts. Maybe that’s where my problems with authority figures began.


35 posted on 07/14/2023 7:34:05 AM PDT by Night Hides Not (Remember the Alamo! Remember Goliad! Remember Gonzales! Come and Take It!)
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To: lastchance

You should pay the vig first.


36 posted on 07/14/2023 7:34:55 AM PDT by Night Hides Not (Remember the Alamo! Remember Goliad! Remember Gonzales! Come and Take It!)
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To: Night Hides Not

Little turpentine balls. Never developed a taste for them.


37 posted on 07/14/2023 7:49:24 AM PDT by LouAvul (Daniel 4:17: "..the most High ruleth in the kingdom of men, and giveth it to whomsoever He will.." )
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To: MCSETots
So, apparently, college degrees don’t make you smart . . .

Bingo! That why the screening tests in the form of SAT/ACT and GPA matter. The objective is to admit proven smart people who can master the material in a degree program. Actually graduating is a measure of tenacity to complete the process. GPA at graduation is a measure of whether the admissions criteria resulted in the desired outcome. GRE to follow.

The dropout rate of those admitted on other than merit should be tracked. The 5% carve out for affirmative action admissions in the UC system had a 95% dropout rate. Of the 5% who finished, less than 2% (2% of the 5% finishers) moved forward to grad school.

38 posted on 07/14/2023 7:54:17 AM PDT by Myrddin
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To: ChicagoConservative27

I’m looking for an emergency injunction within the next 7 days...if it even takes that long.


39 posted on 07/14/2023 7:54:37 AM PDT by Mariner (War Criminal #18)
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To: TakebackGOP

Or to cover for the steal when not enough women and people of color vote for annihilation.


40 posted on 07/14/2023 7:55:38 AM PDT by mewzilla (We will never restore the republic if we don't first secure the ballot box.)
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