As far as illegal goes...just think back to that speech he made fairly recently in which he openly boasted about having defied the SCOTUS ruling.
Illegal? Pfftt!
USSC has said no, can’t do it, unconstitutional.
“Santa” Joe says “Try to stop me.”
No one has. No one will.
In economics, a moral hazard is a situation where an economic actor has an incentive to increase its exposure to risk because it does not bear the full costs of that risk. A moral hazard may occur where the actions of the risk-taking party change to the detriment of the cost-bearing party after a financial transaction has taken place.
A ton of us have already paid back our loans but the predatory Student Loan system kept charging interest and fees. Those who have paid back what they borrowed have had their loans forgiven. I don’t see what the issue is here.
And, by the way, how long until President Senile can do the same for mortgages of the "protected classes" ... or anybody he considers a voting bloc? This is so wrong.
The little biatch in the White House needs the votes so he has to play Jesus and spread his “forgiveness” and OUR DOLLARS for their debts across the country.
That is all these sick dim pukes have left, handing out taxpayer money for votes...
The words, Loan Forgiveness, are misleading or perhaps deceitful depending on the intentions of purposely misleading.
What Biden is doing is not loan forgiveness, it is a loan transfer.
Biden seeks to transfer loans off the backs of the folks who benefitted from the loan and put that loan burden on the backs of the taxpayers who did not benefit from the loans.
There is an American somewhere, perhaps many, whose responsible thinking caused him to forgo borrowing what he knew he could not pay back and seek employment without a degree. Today, that citizen's boss is the one who has the degree and that citizen is paying back the boss's loan.