Posted on 02/04/2022 8:37:30 AM PST by TigerClaws
Full title: A judge approved $100,000 in student-loan forgiveness for a 35-year-old man who filed for bankruptcy. Biden's education secretary just took the first step to block that decision.
Editor's Note: On Friday, the Education Department announced it will be withdrawing its appeal of Wolfson's case and told Insider that "any borrower in an adversary bankruptcy proceeding can request and receive a stay on their proceedings."
Two weeks ago, Ryan Wolfson achieved a rare feat in court — a successful elimination of his nearly $100,000 student-debt load through bankruptcy. But the Biden administration might be standing in the way of the 35-year-old's relief.
The Daily Poster first reported on Wednesday that the Justice Department last week filed a notice of appeal on behalf of Education Secretary Miguel Cardona in the case Wolfson v. DeVos. Specifically, Wolfson said he struggled to find a full-time job after graduating college in 2010, and nine years later, when working full-time for ride-hailing services, he had a seizure and totaled his car.
(Excerpt) Read more at businessinsider.com ...
Judges can do anything!
"Wolfson said he struggled to find a full-time job after graduating college in 2010, and nine years later, when working full-time for ride-hailing services..."
Tip: After I got my computer science degree I didn't have to drive an Uber.
MSM tell us his degree ??!
In that case, I think his diploma should be revoked.
IM glad to hear this.
Universities sold these people a pig in a poke. A worthless “education”. The “Elites”
Make the university pay for it.
It was very generous of the Judge to spend their own money to pay the tax payers back. Surprised the Judge didn’t ask the university fleecing system to chip in....of course the Judge did use their own money right? Right???
Nope. Probably an Art degree with a specialization in Erotic Suppression Aggrievance Disorder. LOL
I’d love to see more of this.
“I spent $XX,XXX on my _____ grievance studies and after 3 years of not being able to find a job in my field. I want a refund.”
THAT is the way to get the GOV to stop underwriting these loans. As well as massively bring down the cost of higher ed.
There, I corrected it.
You can read these articles all day long and never see the simple explanation that, with respect to federally guaranteed student loans (which make up about 85% of the $1.7T outstanding), it's a zero-sum game folks, either the student/borrower pays it back or the taxpayer does.
> Biden’s education secretary just took the first step to block that decision. <
That’s the most amazing part of the whole article.
These schools and financial institutions are the very definition of "predatory lending".
"Predatory lending includes any unscrupulous practices carried out by lenders to entice, induce, mislead, and assist borrowers toward taking out loans they are otherwise unable to pay back reasonably or must pay back at a cost that is extremely high above market. Predatory lenders take advantage of borrowers' circumstances or ignorance."
https://www.investopedia.com/terms/p/predatory_lending.asp
“I spent $XX,XXX on my _____ grievance studies and after 3 years of not being able to find a job in my field. I want a refund.”
At least you will have found a use for your Grievance degree.
I’m no expert on career advice, but kids, just because there’s one person who has a totally cool job does not mean there’s a cool job in the same field for you too.
On the other hand, I have a relative who got what appeared to be a useless degree in historical architecture a few years ago and now advises companies on remodels of buildings.
I want a refund. I paid off my student loan. I want a refund!
Wouldn’t be bad if they took his degree and then made the university pay the load.
I agree with allowing bankruptcy to clear student loan debt.
I would also suggest making the schools have skin in the game.
> Universities sold these people a pig in a poke. <
Absolutely correct. It is, of course, a student’s responsibility to do due diligence. But that’s hard to do successfully when the universities misrepresent to the point of outright lying.
I once read an article about this girl who got a degree in Fashion. She was told that previous graduates had a 90% job placement rate. That sounded good, so the girl signed on. Only later did she discover that this count included part-time sales people who were making minimum wage.
Hey - as long as he got to party (oops, i mean study) for six years it’s all good.
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