Posted on 08/26/2023 2:14:42 PM PDT by Libloather
One year ago today, millions of student-loan borrowers received the news some of them had been awaiting for decades - up to $20,000 of their student-loan balance would be wiped out. But they have yet to receive that relief.
President Joe Biden's announcement was a long time coming. Since he took office, his administration was weighing its options to get relief to borrowers, and Biden himself even questioned his authority to enact broad debt relief. But on August 24, 2022, his administration concluded that he had the authority to cancel student debt for federal borrowers using the HEROES Act of 2003, which allows the education secretary to waive or modify student-loan balances in connection with a national emergency. In this case, that emergency was COVID-19.
"For too many people, student loan debt has hindered their ability to achieve their dreams - including buying a home, starting a business, or providing for their family," Education Secretary Miguel Cardona said in a statement at the time. "Getting an education should set us free; not strap us down! That's why, since Day One, the Biden-Harris administration has worked to fix broken federal student aid programs and deliver unprecedented relief to borrowers."
About a month after the debt relief announcement, applications opened for federal borrowers to apply for an up to $20,000 reduction to their balances. It was a quick form that took about five minutes for borrowers to fill out, simply requiring their names, contact information, and Social Security number - and within weeks, 26 million borrowers submitted the application, and the Education Department approved 16 million of them for relief.
However, that momentum came to a halt in November, when two conservative-backed lawsuits succeeded in blocking implementation of the relief. The cases eventually went to the Supreme Court for oral arguments...
(Excerpt) Read more at businessinsider.com ...
Bidenskyyyyy has to be the biggest prick to ever roam the planet Earth.
The devil is in the details (which the Dems hide).....zero relief for the young borrowers who tried to start college during Covid (online only, in most cases). They’re still strapped and will be paying the piper for years to come. Jobama’s scheme is only for those who’ve paid for years and already have careers in their chosen fields. Basically lawyers, docs, politicians and the like.
But the young dumbsters think it applies to them.....
Many of these borrowers are financially illiterate and gullible on top of that. They’ve bought into a lie promised by dingleberry Biden. That said, Biden and the rest of them knew darn well they had no authority to forgive the debt but that didn’t stop them from dangling that carrot out for votes. This same carrot will be brought out whenever they need votes although the need for votes is not as great as it once was.
Liberals seem to like the idea of everyone else paying off their student loans but none of them seem to mention lowering the college tuitions. Maybe if loans weren’t guaranteed by the federal government schools wouldn’t be able to charge as much (since no one would be able to afford to go)
The beauty of this issue for Democraps is that they don’t ever have to come through with the goods to get the flatworms’ votes.
I’d forgive anyone with a stem degree. Probably not too many of them. They’ll be the horses that pull the cat. The others are looking for that free ride.
That’s cart not cat.
Treat student loans like any other loan.
Well said. But ironically anyone with a STEM degree has gotten a good job and paid off the loan by now.
Dems figure it’s the thought that counts.
His intention was to grab votes by promising utopia to be paid for by someone else.
*Dems figure it’s the thought that counts.
His intention was to grab votes by promising utopia to be paid for by someone else.*
We’ll never win at the game of Santa Claus.
We can do our own thing. How about 100% school choice for parents? $500 for anyone who DOESN’T have a tattoo? Waste of money.
RE: We’ll never win at the game of Santa Claus.
True.
The article mentions Chuck Schumer, the gross and disreputable Senator from New York. As a reminder, Schumer is the Senate Majority leader who threatened the lives of conservative Supreme Court Justices by attempting to incite an insurrection against them and our constitution. Besides the unruly mobs of rioters in front of one justice’s home, one armed assassin did show up at that home. Fortunately that assassin was arrested and the family including children was spared.
Wouldn’t it seem that the Department of justice as well as the FBI should move in for Schumer’s indictment and arrest. Short of that, at the very least, a local DA should move to rectify the situation.
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