Schumer calls on Biden to bypass Congress and forgive $50K in student loans per person

The Hill ^ | Dec 7, 2020

[krug]

Exactly: wife and I paid ours over the course of 10 years in the 90’s. Because that’s what you did. I’m going to get mine paid too by pitch fork if necessary.

[Golden Eagle]

I’m not a lawyer, but my BS meter says that the President does NOT have the authority to do that via an executive order.

Depends on who the current President is, of course. We are likely to be amazed at all the Presidential power that only Joe Biden will be genius enough to discover, should he be sworn into office.

[Mr. Jeeves]

Well, as long as they simultaneously seize university endowments to cover the cost of these tuition rebates, I have no problem with it. :)

[Tilted Irish Kilt]

GreyFriar :" ..my BS meter says that the President does NOT have the authority to do that via an executive order."

From the OP :
Schumer says "..the incoming president could forgive as much as "$50,000 of debt the first day" he assumes power. "

I believe that most student loan debt is already owned by the Federal Government.
If this is the case, the President can forgive that loan,
and worse,
this forgiveness will be a subsidy for the socialist indoctrination centers we call colleges.

[Vision]

Why do only reckless students get money? What about those who worked through college? Or never went to college? Or bought an expensive car?

[Shadow44]

Of course, instead of advocating for debt relief as a whole, they only want student loans. I would be OK with a debt jubilee as a transition to de-financialize the economy, but this is pandering to professionals with graduate degrees.

The funny part is, I don't even think they will deliver because the banks aren't going to let the Democrats make them take a loss. They're already coming up with Woke excuses about how it would reinforce White Privilege because minorities have lower graduation rates than whites and Asians.

[stuck_in_new_orleans]

Sure

[Golden Eagle]

I’ve been rather shocked they haven’t been rioting already. I can only guess it’s been because the judges have all been tossing the cases out, just as quickly as they possibly could have, after receiving them. That could of course change in an instant, depending on the ruling, as they’ve certainly had time to prepare. Hopefully we’ll be prepared as well, as I doubt the riots are over, completely, no matter what. Thanks.

[Fai Mao]

Actually, in Mandarin, the name “Zhou” is pronounced as “Joe” So, Chairman Zhou.

[ifinnegan]

Interest. Good idea.

[beethovenfan]

And she learned absolutely nothing.

[EinNYC]

Not even in office and already pulling illegal stuff. That’s a preview of the future if G-d forbid Biden gets in.

[preacher]

l8r

[ought-six]

I paid off my student loan almost 40 years ago. Can I get a refund?

[mikey_hates_everything]

So the first $50k of each of my 3 kids’ upcoming college costs will be covered? Cool! I’ll take a loan for $50k on each and cash in their 529s that aren’t used. Cheaper to just pay taxes on the forgiven $150k.

[E. Pluribus Unum]

What a cheapskate.

Why not $100,000?

[silverleaf]

“Forgiven debt” of $1.5 trillion for some is stiffing 44 million lenders to others ....

But then GM bondholders can tell us about 2008...

[xrmusn]

I paid off my student loan almost 40 years ago. Can I get a refund?
= = = = = = = = = = = = =

Maybe those of us that used the VA home loan will be able to get a refund also?

is Sarc/ necessary?

[Blood of Tyrants]

And those of us who are paying for our kids’ college as we go are just a bunch of suckers, right?

[Starcitizen]

Maybe the Indian H1B, OPT, H4EAD and L1 scumbags can be forced to pay off American STEM graduates student loans, as Americans were too stupid and naive to go into this Indian-dominated field to begin with.