Posted on 07/14/2023 6:40:08 AM PDT by ChicagoConservative27
The Biden administration has announced that it will provide $39 billion in total student debt relief for 804,000 borrowers, its latest step since President Biden’s student loan forgiveness plan was struck down by the Supreme Court.
The Education Department said on Friday that the relief is being provided on income-driven repayment plans, in which the federal government cancels remaining balances for the borrower after they have made their payments for 20 or 25 years.
The department said the “fixes” will more accurately count monthly payments that qualify under the plans, and it will notify borrowers who are eligible for the relief in the upcoming days.
The Supreme Court struck down Biden’s plan to give $10,000 of student debt relief to low- and middle-income borrowers and up to $20,000 for Pell Grant recipients in a 6-3 decision last month. The majority found that Congress had not directly authorized the president to forgive debts worth in aggregate hundreds of billions of dollars.
(Excerpt) Read more at thehill.com ...
Mrs. rktman would like her money back from paying off her student ‘debt’ from 35 yrs ago. Crickets. Hey. How about the institutes pay the money back.
Bingo!
Why not? He’s already told America to screw off re wetbacks, inflation, energy production, etc. He’s a stupid fool with a kamikaze mentality.
I want my money back too. I never realized that it was “racist” and stupid to actually pay back a loan I signed for.
I listened to the debate in the Senate when they discussed how they were going to finance the large fixed benefit retirement programs for government workers when private companies were doing away with those same programs. They decided that since student loans had a spectacular repayment record, they’d use those instead of raising taxes. To make the program work they’d have to limit or eliminate private loans for college payment. Another thing they’d have to do is make those loans unforgivable in bankruptcy. That was because, at the time, if a student had loans for, say a non-stem degree that was the first thing forgiven by a judge since a non-stem degree had no value towards repaying the student’s other obligations. You can buy too much car and it will be forgiven. The same with a house, a boat or even medical bills. But a judge is forbidden to forgive student debt because that debt is used to pay the retirement of government workers...the judges, for example.
I believe this is why no plan to forgive student debt will ever be legitimately passed as a bill. To do so would unfund the retirement programs of the people passing said bill. The president can pose and talk but it’s unlikely any substantial debt relief will take place.
At the time this was all planned nobody had ever heard of a doctorate in gender studies. Like anything government does the takeover of student loans had unintended consequences.
The Deadbeat Generations sticks it to Americans who have to pay their bills. This is a disgrace. It’s how the Democrazies get elected. Spend trillions of taxpayer dollars on those who will vote for them.
I didn't realize how good I had it. I was distracted by people telling me what to do. "Sit up straight!" "Eat your brussel sprouts!" "Do your homework!"
But it was a good time to be a boy in America.
If these people can’t pay their bills, this money was wasted sending them to “college”. Most of them are Starbuck baristas and Uber drivers.
I did, as well.
Agreed.
Yet, far too many of those same working class folks will keep voting (D).
What is so damn special about that debt? What about medical debt or mortgage debt or I owe my bookie 10 g bet.
Just another clever idea from the Biden handlers in an attempt to buy votes.
I wish we had rule of law.
I feel the pain of those like you who did things the right way.
I hate brussel sprouts. Maybe that’s where my problems with authority figures began.
You should pay the vig first.
Little turpentine balls. Never developed a taste for them.
Bingo! That why the screening tests in the form of SAT/ACT and GPA matter. The objective is to admit proven smart people who can master the material in a degree program. Actually graduating is a measure of tenacity to complete the process. GPA at graduation is a measure of whether the admissions criteria resulted in the desired outcome. GRE to follow.
The dropout rate of those admitted on other than merit should be tracked. The 5% carve out for affirmative action admissions in the UC system had a 95% dropout rate. Of the 5% who finished, less than 2% (2% of the 5% finishers) moved forward to grad school.
I’m looking for an emergency injunction within the next 7 days...if it even takes that long.
Or to cover for the steal when not enough women and people of color vote for annihilation.
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