Posted on 04/01/2021 4:28:42 PM PDT by artichokegrower
President Joe Biden is looking into his "legal authority" to cancel student-loan debt up to $50,000, the White House chief of staff, Ron Klain, said in a Politico Playbook interview on Thursday.
Klain told Ryan Lizza, Politico's chief Washington correspondent, that Biden had asked Education Secretary Miguel Cardona to create a memo on the president's legal authority to forgive student loans.
He wants the memo to look into both forgiving student loans and canceling debt up to $50,000, Klain said.
(Excerpt) Read more at businessinsider.com ...
Keep looking.
Its not there.
He has zero legal power to cancel loan contracts of banks and private individuals.
He is not king.
He is not even the president.
Cheater in Thief.
Will it be considered INCOME???
Canceling debt. Yeah. Who needs promissory notes? Not worth the paper they’re printed on, right?
Any stipulations? So the dude who went to college for 3 years of pot-smoking, frat parties, spring break trips and leaves school with a a 2.0 GPA and no degree gets his loan forgiven? Got it.
Who the Hell does that senile retard think he is, Putin??
Actually, the Obama administration consolidated and centralized the student loan business under the federal government. "Stroke of a pen."
Biden needs to send me a check for $50,000 of his funny money since I worked through college to not take on debt.
Well they haven’t passed it yet. Lets hope they don’t.
Check your privilege!
Don’t underestimate him. He’s got the media, the courts, federal agencies and the congress backing him. He’s got carte blanche.
We are no longer a nation of laws. We are ruled by fiat.
The only thing Biden’s looking into is “Where’s my pudding?”.
IOW’s kiddies... Biden is looking for an ‘out’. First campaign promise clearly ditched. You’re young. When you reach Mom & Dad’s age the Biden’s will be catering to your needs.
FedGov owns the paper for many student loans now. Obamacare did that to use the interest payments to help subsidize the costs of health care.
This is fine, as long as they make the schools eat it. :)
Student debt? Why not US debt if the demented jackass thinks he has that power? We are so screwed.
That guy is actually better off.
Cool I can go get a degree in transgender critical race colonialist LBGQT white people are awful creative writing and the government (taxpayers) will pay for it.
He does have authority to use his personal wealth to pay on loans
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