Posted on 06/30/2023 4:53:08 PM PDT by 11th_VA
Just hours after the Supreme Court struck down the president's student loan forgiveness plan, the White House came back on Friday with several avenues to support borrowers.
The Biden administration is seeking to provide debt relief under the Higher Education Act of 1965 and has initiated that regulatory process…
The Education Secretary on Friday initiated a rule-making process in an effort to open "an alternative path to debt relief for as many working and middle-class borrowers as possible" under the authority provided by the Higher Education Act, according to a White House factsheet.
The Education Department on Friday issued a notice that announced a virtual public hearing on July 18 and asks for written comments from stakeholders. After the hearing, the department will finalize the issues that need to be addressed and hold negotiated rule-making sessions this fall.
The White House factsheet did not make clear if the Biden administration is pursuing the same forgiveness plan parameters that the court struck down…
The White House press office did not immediately respond to an email to clarify the debt relief parameters it was pursuing under the Higher Education Act.
The administration also unveiled a plan to help borrowers when they restart their paused payments in October. For 12 months, borrowers won't be penalized for late, missed, or partial payments. Borrowers don't have to take any action to qualify for the program...
(Excerpt) Read more at finance.yahoo.com ...
The Higher Education Act allows the Secretary of Education to "compromise, waive, or release" federal student loans.
Student debt relief has been provided to borrowers who are disabled, employed as teachers, or who could not complete an educational program because their institution of higher education closed, according to a report by the Congressional Research Service.
However, the act must go through negotiated rule-making to make changes to administrative regulations — a process that could take a year or longer.
"It's subject to federal regulatory review and comment. That's a much longer process," CBS News chief Washington correspondent Major Garrett explained. "When the president said it's going to take a while, they'll move as fast as they can — they can only move as fast as that regulatory process, which has very specific guidelines and hurdles, can go."
The White House issued a fact sheet late Friday afternoon stating that the Education Department initiated rule-making "aimed at opening an alternative path to debt relief for as many borrowers as possible."
Under the Higher Education Act, the department took the first step and issued a notice for a public hearing. Following the hearing, it will being negotiated rule-making sessions in the fall, the White House said.
“debt relief for as many working and middle-class borrowers as possible”
What is a “working class” borrower? Do middle class and upper class not work? All Marxist claptrap. The democrats will forgive the debt. What will stop them? Nothing. And look how Biden will do it. “No interest or penalties for “late payments.”” Well heck. Never pay it off.
No offense but they claimed they were legal in what they were doing before, and just got smacked down by SCOTUS.
So they are doing the same thing again, just claiming to be legit under a different law.
Okay...on the very day SCOTUS says any such action has to be taken by Congress, Biden announces a plan to circumvent the decision.
How is this not worthy of an impeachment article in and of itself?
Doesn’t Congress have a say on the original Act it created, and any changes in the rules the Democrats want to put in place? Who does the regulating of the rules? And if it’s not Congress, then who appoints the people who do the regulating of the rules?
“How is this not worthy of an impeachment article in and of itself?“
Because the original plan was part of the - “get rid of Trump at ALL costs” scheme. And the Republican Party was down with that.
They will not touch old Plugs. No way, no how.
They have REAL fish to ‘fry’…
Donald Trump is still out there..
Deceit, theft by Supreme Court decision workarounds, free stuff. Today's Democratic [sic] Party.
“...The states are finally learning they do not need a federal dep of ed.”
In NH, the federal govt contributes about 7% of our total educational budget. I asked our Commissioner of Education (Frank Edelblut) what the cost of compliance with federal mandates is for that 7%. Our Commissioner could not answer that question, nor could the members of the House Education committee that I asked. I suspect mandate compliance is far more than 7%, and that we would actually be better off not taking that fed money, but nobody, including Republicans seem interested in making that cost/benefit analysis.
I suspect they think turning down education money is yet another third rail of politics and that they don’t have the guts to try and make the case even if it means cost savings AND a better education for our kids.
Joe can use his filthy Chinese money to help
If student loan reparations failed, then how will race reparations be legal.
I’m sick and tired of paying for other people. Maybe, just maybe they should have majored in an employable degree.
They should reinstate every forgiven PPP loan.
Thanks Liz
“I suspect McCarthy made promises to Not Impeach Joe for any reason.”
Of course he did. Go along to get along, the wimp assistant democrat way.
Different terms. Student loan promissory notes don’t include a future promise or forgiveness. The PPP loans did, if certain conditions were met.
clarify the debt relief parameters, here we go people! only black and brown will be forgiven
We knew it before they created it, but the GOPe have kept it, even under Reagan who promised to kill it.
Young college students are mostly freshly created Marxists, of course we are going to give them a hand.
My reply to the states concerned about ditching the federal dept of ed is that I would reduce federal income taxes equal to the elimination of the budget of the dept of ed, thus returning the monies to the peoples’ pocket books, for the states to further tax should they so choose.
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