Posted on 01/14/2020 9:36:55 AM PST by tcrlaf
Sen. Elizabeth Warren (D-Mass.) has already pledged that, if elected president, she would erase student-loan debt for the vast majority of the 45 million borrowers in America. On Tuesday, she went one step further, saying she would use executive authority to begin wiping out student debt on the first day of a Warren presidency.
She appears to be the first 2020 presidential candidate to have a day-one plan to use presidential executive authority on student-debt relief. In all, borrowers currently hold more than $1.5 trillion in student-loan debt in this country, a slow-motion crisis that economists say dampens home purchases, starting new businesses, saving for retirement, and even getting married.
Warren’s new plan says the Department of Education has the authority to “modify, compromise, waive, or release” student loans under the nation’s flagship law for colleges and universities, the Higher Education Act. This authority, Warren’s plan says, “provides a safety valve for federal student loan programs, letting the Department of Education use its discretion to wipe away loans even when they do not meet the eligibility criteria for more specific cancellation programs.”
(Excerpt) Read more at rollingstone.com ...
1. She doesn’t have the power.
2. It would be a “taking,” and a massive violation of the Fifth Amendment.
Will this be before or after she terminates single family home construction?
I have a mortgage with a couple of years on it. Can Liz wave her wand my way?
Okay, you chumps: I know the other socialists (including me) have all offered taxpayer cash in various forms to buy your votes, but I’m upping the ante by increasing your bottom line by up to $50,000 on my very first day in office! And from there, there is no end of free goodies (if you vote for me).
Oh, no. The universities have gotten paid. Years ago. That’s where the loan money went. What will kill the colleges is demographics—in 5 years the college aged population attending college will drop like a rock.
Look at all the new buildings on campuses. Someone has to pay for those.
And going forward, who will take out a student “loan?” I suppose all loans will be converted to grants, unlimited in amount. Congress will just authorize an unlimited borrowing line. Is that the plan? Let’s just abolish money and make everything free.
The gates have been breeched.
She has no desire to cancel student debt, but buying votes, now that has traction.
What office could she be talking about? Is she doing “let’s pretend.”
Cruelest campaign lie of the century.
Kind of nebulous, but after checking I see you are mostly correct. One source said that the federal government loses 150 - 250 billion per year on student loan programs. That translates to a lot of happy, fat cats in academia.
Do not be too certain that she can’t buy votes with this.
A lot these people owing this debt are going to consider there personal situation whole lot more important than what’s right for the country. “””
I would bet that there are MORE people who paid for college themselves or PAID OFF their student loans than current loan holders.
Those who played by the rules won’t want to vote for a “President’ who would let so many others off the hook for free.
She is nuts.
The Dimms... the FREE $HIT FOLKS!
Warren executive order to bail-out overpriced leftist
indoctrination centers - bump for later.....
Reimbursement for the responsible students who worked hard to pay off their student loans?
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