Posted on 06/30/2023 9:08:53 AM PDT by BradtotheBone
The US Supreme Court shot down the Biden administration’s controversial plan to forgive billions of dollars in federally-backed student loan debt, a decision that means millions will have to start making repayments later this year.
In a 6-3 decision down ideological lines, the justices held that the administration wasn't authorized to offer the debt relief under a 2003 law known as the HEROES Act. The Biden administration invoked that act during the initial stages of the COVID-19 pandemic as authorization for the student loan relief.
"The text of the HEROES Act does not authorize the [Education] Secretary’s loan forgiveness program,"Chief Justice John Roberts wrote in the majority opinion.
Power given to the secretary under the law to “modify” student loan programs, the justices held, does not permit “basic and fundamental changes in the scheme” designed by Congress.
The Biden administration estimated that 20 million borrowers would have had their student loans forgiven as part of its plan. The total number of borrowers with student loan debt is 43 million. More than 26 million borrowers applied for relief before the court disputes brought the program to a halt.
Those who were granted a pause will have to resume making interest payments on Sept. 1 and regular payments due starting in October.
(Excerpt) Read more at yahoo.com ...
“Note that three of the justices do think such “modifications” are authorized.”
Senate Confirmation votes on the three far left Supreme Court justices.
Elena Kagan - 56 Dems for, 2 Independents for, 5 Republicans for
Sonia Sotomayor - 57 Dems for, 2 Independents for, 9 Republicans for
Ketanji Brown Jackson - 48 Dems for, 2 Independents for, 3 Republicans for
Republican Susan Collins of Maine voted or all three. Lindsay Graham voted for two.
But, if reparations were to be paid by the descendants of former slave owners, it might just bankrupt the Democrat party!
:)
The Three Stooges dissented.
Enjoy the MSM meltdown.
So 23 million owe 29,400 and cannot afford to pay it back. They either got a useless degree or are not spending their money wisely. Its less than a car payment.
“If someone wanted to ‘do good’ over this issue...they’d force the pubic university system to develop a ratio of instructors to staff members ...”
In the business school at the flagship state university here, the ratio of faculty to staff flipped from 2:1 to 2:3 over a 20-year period.
Thanks for posting the link to this excellent article:
Start coughing it up, snowflakes.
“I think 90-percent of high school kids would be better off in some trade-school or community college for 2 years, and you’d get more bang for your buck.”
The year after I took early retirement from a full time job.
3 friends tried to get me to teach at the local community college. They wanted someone to teach how to live/survive in the real world not theory.
My wife and I decided that I might inflict severe physical and mental harm on lunatic libs. So, I opted out.
Median pay for a mathematician/statistical degree...is $93k a year (2022). By age 35...you ought to be doing pretty well unless you are a math school teacher.
Thus, “somebody that graduated from college 50 years ago could demand to get his student loan payments refunded.”
One of my female relatives in her early 70’s was prepared to sue to get refunded for paying any loans, she took to pay for her college decades ago..
She loves to drive liberals even more insane.
HUZZAH!
I paid for mine!
My kids paid for theirs!
Root hog or die, pantywastes!
Last weekend my wife and I were in Newport, RI.
At a restaurant we were waited on by a pretty young lady who said she had just graduated from Salve Regina University. I inquired what was her major. She stated she had a dual major in Art History and some other useless degree.
My wife stated when she walked away: “Well at least she is pretty. Hopefully she finds a husband.”
How about both:
23 million owe $29,400 and cannot afford to pay it back.
They either got a useless degree or are not spending their money wisely
Quote: “If college attendance has no payoff in future earnings, young people will give colleges the middle finger.”
Not necessarily. The decision only said that under the existing law Biden could not forgive the loans. But never ever underestimate Congress’ ability to pass pork or the GOP to cave on a budget negotiation that will partially fund a student loan bailout.
But yes, Congress moves like a glacier and it is unlikely that we will see student loan forgiveness for years. I would love to see the party being over for our institutions of higher indoctrination.
Good stuff.
The universities and other educational entities should pay off the student loan debt., at least partially. They failed to give most graduates their money’s worth.
Hmm. Just in time for the government to “recovery” that $200 billion that was just reported missing. And accounting errors like the Ukraine welfare.
Biden and his band of disgusting corrupt demiscreants WILL forgive student loan debt. Laws, the constitution, Congress, and the courts will not stop them.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.