Posted on 11/17/2022 2:22:28 PM PST by Oldeconomybuyer
WASHINGTON (AP) — The Biden administration plans to ask the Supreme Court to reinstate the president’s student debt cancellation plan, according to a Thursday legal filing warning that Americans will face financial strain if the plan remains stalled in court when loan payments are scheduled to restart in January.
The Justice Department is fighting to keep Biden’s plan alive after it was halted by two federal courts in recent weeks.
Keeping the debt relief on hold would leave the government with an “unnecessarily perilous choice,” the administration argued in its filing Thursday. If it restarts student loan payments as planned on Jan. 1, millions of Americans will get billed for debt that was promised to be canceled. But if the government extends the payment pause, it will cost billions of dollars in lost revenue.
The White House says it will prevail in court, but the barrage of lawsuits has thrown Biden’s plan into jeopardy. It’s now uncertain whether 40 million borrowers who were promised debt relief will have to start making payments on that debt in January.
The biggest risk is for 18 million borrowers who were told their entire loan balance would be canceled. Even if payments restart, those borrowers might think they’re in the clear and ignore the bills, the Education Department has warned.
Borrowers who fall behind on payments can face heavy consequences, including damage to their credit scores and the withholding of wages and tax refunds.
Advocates and some Democrats in Congress are pressuring Biden to extend the payment pause until all legal challenges are resolved, despite his previous assurance that the freeze would end after Dec. 31.
(Excerpt) Read more at apnews.com ...
how many fell for this con?
says something about the quality of their overpriced education
And they acted like Trump was nuts...?
With the new GOP Majority in the House they BETTER NOT pass a bill allowing this!
They still have two months
No chance.
how many fell for this con?
Anyone who voted for a Democrat last week based on getting their student loans reduced was played by the Biden administration. As it stands now the day after the election (coincidence?), a judge struck it down. Biden got their votes for FREE.
I see this! This is an attempt to lay the blame on someone else. It wasn’t BIDEN’S fault it failed, it was those damned supreme court justices! You know, the same ones who reversed Roe. WE MUST PACK THE COURT!
This move simply is another opportunity to try (in vain) to make the “Trump SCOTUS” look bad. It won’t work. In fact, a desirable outcome would be for SCOTUS to spank Brandon hard - - real hard - - for election interference by promising the impossible to garner votes.
Voter Fraud and Biden’s deliberate abandoning of their safety after the Roe v Wade reversal. He tacitly encouraged it, in fact. This won’t be lost on those members who were affected.
“...millions of Americans will get billed for debt that was promised to be canceled.”
The supremes need to tell the old fool to get lost.
he biggest risk is for 18 million borrowers who were told their entire loan balance would be canceled. Even if payments restart, those borrowers might think they’re in the clear and ignore the bills, the Education Department has warned.
Man they will say anything to get this done. Pathetic.
Biden voter bribe = entire loan balance
This lame duck is probably the most dangerous ever.
Due to Biden voter bribery attempts, the Supreme Court should both ban the bribery and order revotes in all federal races Democrats won.
Also, make the Dems OWN this.
They pushed non-dischargeability of student debt, at the behest of banks in return for, I suppose *cough* “campaign contributions” *cough*
If they can’t get the courts to undo this, the GOP in the House ought to hold prime time hearings, issuing subpoenas to the bank lobbyists and Nancy Pelosi, and hang the student debt around their necks like a flaming tire.
“Biden admin to ask high court to take up student debt plan”
I’m old enough to remember when we all called it “Student Loans”. Guess they’ve done some focus groups...
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