Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Biden administration to cancel another $1.2B of student loans
NY Post ^ | 02/21/2024 | Josh Christenson

Posted on 02/21/2024 9:23:45 AM PST by ChicagoConservative27

The White House said Wednesday it is canceling $1.2 billion worth of student loans for some 153,000 people, moving forward with a piecemeal solution to its debt forgiveness pledge after the Supreme Court struck down an earlier scheme to cancel $430 billion.

“With today’s announcement, we are once again sending a clear message to borrowers who had low balances: if you’ve been paying for a decade, you’ve done your part, and you deserve relief,” Education Secretary Miguel Cardona said in a statement.

“Under President Biden’s leadership, our Administration has now approved loan forgiveness for nearly 3.9 million borrowers, and our historic fight to cancel student debt isn’t over yet.”

This past June, the high court struck down the Biden administration’s attempt to cancel $430 billion in loans for 43 million student borrowers under a 2003 law meant to financially assist veterans of the Iraq and Afghanistan wars.

(Excerpt) Read more at nypost.com ...


TOPICS: Breaking News; Business/Economy; Crime/Corruption; Culture/Society; Government; News/Current Events
KEYWORDS: administration; biden; dictator; lawlessregime; loans; moneylaundering; student; studentloans; thiefinchief
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-73 next last
To: ActresponsiblyinVA

It works very well - I must admit

Gotta love our Banana Republic


21 posted on 02/21/2024 9:43:42 AM PST by SaveFerris (Luke 17:28 ... as it was in the Days of Lot; They did Eat, They Drank, They Bought, They Sold ......)
[ Post Reply | Private Reply | To 18 | View Replies]

To: ChicagoConservative27

Biden administration to cancel another $1.2B of student loans

_____________________________________________________

But remember conservatives win on a message of low-taxes, fiscal restraint, and promises of endless wars. /s


22 posted on 02/21/2024 9:45:08 AM PST by Bishop_Malachi (Liberal Socialism - A philosophy which advocates spreading a low standard of living equally.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: allendale
If he loses, come Christmas 2024, the America hating lowlife will issue a blanket immunity to all the illegal migrants he allowed to invade America.

If he wins, he will do same and then some. Many of his rank-and-file political opponents (like some FReepers) will be persecuted and possibly imprisoned.
23 posted on 02/21/2024 9:45:39 AM PST by Dan in Wichita
[ Post Reply | Private Reply | To 13 | View Replies]

To: ChicagoConservative27

But 95 billion for Ukraine, Israel and Taiwan is our patriotic duty.


24 posted on 02/21/2024 9:47:55 AM PST by DesertRhino (16 Star Wars, 2020 The Empire Strikes Back, 2024... RETURN OF THE JEDI)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChicagoConservative27

Where is he getting the money for this. I thought SCOTUS said he couldn’t do this


25 posted on 02/21/2024 9:50:09 AM PST by McGavin999 ( A sense of humor is a sign of intelligence, leftists have no sense of humor, therefore……)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChicagoConservative27

He has already been forbidden by Supreme Court ruling from doing this. Why isn’t anyone doing anything about it?


26 posted on 02/21/2024 9:53:01 AM PST by fwdude (.When unarmed Americans are locked up for protesting a stolen election, you know it was stolen.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChicagoConservative27

I still haven’t received my “thank you” card from the deadbeats.


27 posted on 02/21/2024 9:59:00 AM PST by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RedMonqey

Great comparison. Well done,.


28 posted on 02/21/2024 10:04:34 AM PST by Jonny7797
[ Post Reply | Private Reply | To 15 | View Replies]

To: Red Badger
Where in the Constitution is he empowered to do this??????........

It's being done by expanded executive interpretation of cancellation through repayment plans authorized by Congress. If Republicans had agreed to write off the debt in exchange for abolishing the U.S. Dept. of Ed., this wouldn't have happened while still handing out more loans which will wind up in default. Republicans didn't make a deal when they could have. This now results.
29 posted on 02/21/2024 10:08:40 AM PST by Dr. Franklin ("A republic, if you can keep it." )
[ Post Reply | Private Reply | To 5 | View Replies]

To: ChicagoConservative27

It’s only a matter of time until Dems do the same for mortgages.


30 posted on 02/21/2024 10:09:02 AM PST by aimhigh (1 John 3:23 "And THIS is His commandment . . . . ")
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChicagoConservative27

I guess all federal loan programs can be converted to grant programs on a whim.

Of course this is illegal, but Biden will just do it and present it as a fait accompli before challenges can be litigated. The clock on a possible injunction to stop this will run out fast.

Once upon a time, in the distant past when Congress still had a budget process, this could not have passed muster on the Hill because a grant is an expenditure requiring enactment of dollar for dollar Budget Authority. Loan programs were multipliers because the underlying BA was substantially offset by projected repayments. Congress only needed BA to cover anticipated losses. Loan guarantees yielded an even bigger multiplier. If everything becomes a de facto grant, everything becomes an expenditure.

But since there is no longer a budget process, what the heck. The Treasury will just borrow whatever.


31 posted on 02/21/2024 10:14:01 AM PST by sphinx
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChicagoConservative27

I am sorry my son ever sacrificed and repaid his student loans in full. He should be reimbursed and so should any American who repaid their student loans.


32 posted on 02/21/2024 10:17:12 AM PST by dforest
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChicagoConservative27

reason numerber 5 he should be removed violation of oath of office


33 posted on 02/21/2024 10:19:29 AM PST by coalminersson (since )
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChicagoConservative27

What a great guy!

Where DOES he get all the money?

</s>


34 posted on 02/21/2024 10:20:13 AM PST by The Antiyuppie (When small men cast long shadows, then it is very late in the day.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: whitney69

It appears there is no enforcement of the prior ruling by SCOTUS. Or else the criminals in the RAT party found a way around the ruling.


35 posted on 02/21/2024 10:21:18 AM PST by dforest
[ Post Reply | Private Reply | To 20 | View Replies]

To: fwdude

“ Why isn’t anyone doing anything about it?”

Answer this question and you’ll know: Who is there with the power to “do anything” about it?

Is there an AG to bring charges? Is there an army to stop Biden and enforce the Supreme Court ruling? Is there a Congress not controlled effectively by Biden’s fascist party?

You live in a country with a government controlled by fascists. The fascist party has all the power. The Constitution is dead, only raw power matters now.


36 posted on 02/21/2024 10:38:14 AM PST by Scott from the Left Coast (We have not yet achieved peak crazy)
[ Post Reply | Private Reply | To 26 | View Replies]

To: ChicagoConservative27
"Taxpayers being shook down again..."

That part of the equation is in the 'past light cone'.

This is debt that is not being paid, and barely being collected. Dead debt, yet most of which could not be discharged in bankruptcy until The White Hospice also altered those rules last year.

This is purely The White Hospice pimping moral hazard to their hoodoo do-nothing koalition: 'there is no such thing as debt, and even if there is, it is illegal, and even if debt is legal, who is going to call us on it?'

One way to counter this would be a conservative vanguard swooping in to buy up private-market defaulted student loan debt at a discount and suing the daylights out of both the defaulters and The White Hospice, but Elon has too much on his plate already. So get at it, Freepers!

37 posted on 02/21/2024 10:41:48 AM PST by StAnDeliver (TrumpII)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Dr. Franklin

Well what republicans are best at is giving away leverage for free and folding faster than Superman on laundry day.


38 posted on 02/21/2024 10:52:13 AM PST by rottweiller_inc (inter canem et lupum)
[ Post Reply | Private Reply | To 29 | View Replies]

To: ChicagoConservative27

All of this means nothing if the Dollar collapses.


39 posted on 02/21/2024 11:04:12 AM PST by chopperk (e )
[ Post Reply | Private Reply | To 1 | View Replies]

To: dforest

Yeah me too. My wife and I paid off our student loans back in the Eighties. Is this deal retroactive? Are we going to get a check? I better go check my mailbox.


40 posted on 02/21/2024 11:08:30 AM PST by kawhill (kawhill)
[ Post Reply | Private Reply | To 32 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-73 next last

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.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson