Posted on 12/01/2024 12:04:15 PM PST by SamAdams76
Politics were not discussed during my recent Thanksgiving dinner with family. The closest we came to it, as the wine was poured and the meat, stuffing, and sweet potato came around the table was a question by an elder family member with regard to whether or not some younger members of our family, who recently went to college, actually had their student loans forgiven, as promised to them by the now mostly forgotten and illegitimate Biden Administration.
The innocent, or perhaps pointed, query was met with dead silence by our younger family members, as the gravy boat and cranberry sauce came around. So the conversation quickly moved on to less volatile topics such as whether or not the border collie is a more superior dog than the golden retriever (I incline to border collies being the better of the aforementioned dog breeds).
Student loan forgiveness was supposed to be the signature accomplishment of the stillborn and illegitimate Biden Administration. Despite the unconstitutionality of the U.S. government forgiving personal debt (and thus having the taxpayers, many of which never went to college themselves, assuming it), this magnanimous gesture was designed to drive young voters to the polls en masse in support of the Democrat ticket. Even if that ticket consisted of the intellectually challenged Kamala Harris and her Radio City Rockette in training running mate Jim Walz.
So what happened? Did these students, many of which now make lattes at Starbucks, get made whole or not on their student loans for their degrees in gender studies?
I was super polite at the Thanksgiving dinner so did not press the point raised.
We paid for our children to earn their Associate’s degree and gave each one a nice car.
My eldest financed his last two years, graduated with his Bachelor’s, and is now working for a law firm.
His student loan is in “abeyance” and he hasn’t had to pay anything.
If they have been, future funding of student loans is wiped out. Fooled once, twice, not again.....
https://www.cnn.com/2024/10/17/politics/biden-student-loan-forgiveness/index.html
With less than three weeks before the November election, the Biden-Harris administration is reminding voters how it has delivered a historic amount of student debt relief even as Republicans have challenged several of its efforts in court and balked at the costs.
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Another round of forgiveness was announced Thursday, bringing the total amount of student loan cancellation to more than $175 billion for nearly 5 million people since President Joe Biden took office. That’s roughly equal to 11% of all outstanding federal student loan debt.
Biden’s signature, one-time student loan forgiveness program was struck down by the Supreme Court last year. It would have canceled up to $20,000 of student debt for many low- and middle-income borrowers. In 2022, 16 million borrowers got an email from the Biden administration that said they qualified for debt relief – but no loan forgiveness was ever granted by the program.
Sam, not an answer to your question, but an observation ...
I enjoy your writing so much that if you just wrote the alphabet over and over I’d read it.
Merry Christmas to you and yours.
More than 1 million of these student loan borrowers received debt relief through the Public Service Loan Forgiveness program, which promises loan forgiveness to public-sector workers – like teachers and nurses – after they’ve made 10 years of qualifying payments.
My daughter has a degree from univ of phoenix…. Last round, her balance went to zero without any request. She was behind.
Fate Of Student Loan Forgiveness Likely Dependent On the Supreme Court And The Upcoming Elections
As the Biden administration appeals the 8th Circuit’s recent injunction, the Supreme Court is poised to have the final say on student loan forgiveness under the SAVE plan and several other IDR plans. Any challenges seeking to block the upcoming mass student loan forgiveness program expected to launch in October may also wind up at the Supreme Court, as well.
But the upcoming November elections will also be critical in determining the fate of student loan forgiveness and student debt relief in general. Most of these legal challenges rest on arguments that Congress did not authorize the relief being provided, and that the Biden administration essentially went too far, beyond what Congress intended when it passed legislation that officials relied on to create these programs. Should Vice President Kamala Harris win the White House, and if Democrats also manage to hold the Senate and retake the House of Representatives, they could pass legislation codifying these programs, shoring up their legal basis and effectively neutralizing these legal challenges.
I have a degree from the Art Institutes - one of the private colleges that were shutdown. I still have a few years left on my loans and I was within their “covered window” but mine weren’t wiped out. Most of my loans were private Sallie Mae now Navient etc, but I did have some stafford subsidized that theoretically should have been covered but weren’t. I have a suspicion that maybe they have a political list ;-)
The US Army paid for my tuition.
All I had to give them in return was possibly my life.
Surely with your art degree, you can pay off your loans!
Mine didn’t, neither did my wife’s, but we paid them off back in the 80’s. Our three kids have too, but two had athletic scholarships and one with an academic scholarship which helped mitigate their debt. My wife and I helped them monetarily to pay off their debt. I sure would like a check from Joey before he retires.
Not now that they lost
“ I have a degree from the Art Institutes”
…so how’s Starbucks workin out for you?
That's about as complicated as being able to make coin change if the cash register doesn't provide the answer. That USED to be a common skill, but not so much anymore.
I sure hope you took advantage of the gravy boat when it came around the table.
I’ve wondered that too - can’t recall seeing any data. That’s one thing DOGE can and will address - - crowdsource it all, put the data out where the internet sleuths can get at it and stand back.
The data will flip the script on Congress - put them in the position of having to try to justify the wasteful and stupid says the government spends taxpayer money - to actual taxpayers, face to face, at home in their districts.
That’s really the only pressure they respond to. They don’t feel shame or guilt - the only time they get worried is when their good thing is about to come to an end.
And if any loans have been forgiven under Biden’s programs that violate the guidelines the Scotus laid down, they ought to be reversed and the loans called to be paid in full. Where they get the money is Not My Problem.
If you have a loan at the bank, but the loan officer writes it down to zero without authorization, do you still owe the loan?
Didn’t she insist on paying it back? Why would she want to have her loan repaid by the taxpayers?
How did he go so wrong?
(ducking)
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