Free Republic

We're told that we need to forgive every dollar of the $1.74 trillion in student loan debt because young people are being crushed under a mountain of bad loans. How were they supposed to know that majoring in Environmental Activism wouldn't allow them to earn enough money to pay back their loan? That said, young people are so overburdened in college loan debt that they can't buy a house, or start a family, or even move out of their parent's home. That's been the narrative advanced by Joe Biden, Bernie Sanders, Elizabeth Warren and every other advocate to make student...

A federal appeals court on Thursday temporarily blocked a key Biden administration student loan forgiveness and repayment plan. The order could have significant ramifications for millions of borrowers.. Joe Biden’s Saving on a Valuable Education plan is a new income-driven repayment program designed to provide affordable payments and multiple pathways to loan forgiveness. The Education Department unveiled the SAVE plan last year, and began implementing the program in phases. But several groups of Republican-led states filed two separate legal challenges this spring, arguing that the Biden administration exceeded the authority Congress provided. Thursday’s appeals court ruling is just the latest...

Joe Biden got a $40,000 check in 2017 from China funds that originated from a Biden family deal with a CCP-linked company, CEFC China Energy Co., James Biden admitted to the House impeachment inquiry on February 21, according to a transcript reviewed by Breitbart News. The acknowledgment raises questions about Joe Biden’s previous claims that his family never made money from China.

President Joe Biden has issued two veto threats to protect several controversial agenda items as Republicans in Congress seek to roll back or hamper his administrative goals. If he follows through with the vetoes, that will bring Biden's total vetoes to 10 since he took office in 2020, with all of them occurring this year. The president has vetoed high-profile legislation this year, such as a repeal of a Washington, D.C., crime law and an effort to overturn protections for the nation's waterways. The veto threats floated on Monday involve two areas that are central to both the Biden administration's...

Federal student loan payments have been on pause since March 2020. But that will change soon.Columbia University in Manhattan in New York on May 10, 2021. (Samira Bouaou/The Epoch Times)The U.S. Department of Education, which oversees a $1.6 trillion portfolio in federal student loan debt owed by about 43 million Americans, has posted a notice at the top of its student aid website confirming when borrowers should start paying their bills again.According to the notice, interest will kick in starting Sept. 1, but borrowers won’t need to make payments until October.“Congress recently passed a law preventing further extensions of the...

Joe Biden has extended his pandemic-inspired freeze on repaying student loans through January 2022. That should give the radicals just about enough time to cancel repaying all student debt — all $1.7 trillion of it. I’m sure that’s good news for the 44 million Americans who took out loans to pay for college and especially graduate school. For the rest of us, it’s hard to say. If it encourages more 18-year-olds to take out loans to pay for a degree in rainforest management or classic film studies, it’s probably not a good thing. The pandemic relief measure to freeze repayment...

A new audit of California's Employment Development Department (EDD) finds the agency was unprepared and had ineffective management to handle the surge in jobless claims during the virus pandemic. In September, the Joint Legislative Audit Committee ordered State Auditor Elaine Howle to conduct an in-depth audit into EDD following a tidal wave of abuse reports. One of the most notable abuses was rapper Fontrell Antonio Baines, 31, who fraudulently collected $1.2 million in EDD claims. He even detailed the EDD scam in a rap video. State lawmakers had criticized the agency for massive backlogs that delayed claims, along with its...

WASHINGTON, March 29 (Reuters) - The U.S. Treasury's bank bailout program will move into a profit for the first time on Wednesday with the expected repayment of $7.4 billion in taxpayer funds, Treasury officials said. The transfers to the Troubled Asset Relief Program will push recoveries from banks to $251 billion in repayments of capital, dividends, interest and other income. It invested $245 billion in banks during the financial crisis to help avert a U.S. financial system collapse. The officials did not identify the banks expected to repay funds. But SunTrust Banks Inc and Key Corp said on March 18...

Normally you can’t believe anything a politican says. In this case, it’s a CEO that’s lying, not the politican. Here are the facts: GM borrowed money from the taxpayers, lots of money. Most of that money was traded for stock in the new GM company that was formed during the bankruptcy proceedings. Some of that money was considered a cash loan. The portion that was considered cash, GM paid back. GM has NOT paid back the more than $50 million worth of stock that the government still owns. They would have to buy that stock back, or the government would...

The auto industry, AIG and other struggling recipients of the government's $700 billion Wall Street bailout will make it "extremely unlikely" that taxpayers will receive a full return on their investments, says a new report by the Treasury Department's independent watchdog. About 17 percent of Troubled Asset Relief Program (TARP) loans issued since the program began a year ago have been repaid, according to a 252-page report released Wednesdayby TARP's Special Inspector General Neil Barofsky.

NEW YORK (AFP) – A prominent Democratic fundraiser charged with defrauding Citibank to the tune of 74 million dollars and quickly returning his ill-gotten gains, engaged in yet another fraud to do so, prosecutors said Wednesday. New York financier Hassan Nemazee was charged August 25 with using fake documents to secure a 74 million dollar loan from Citibank. At the time, the authorities said that Nemazee, 59, promptly returned the funds. But in a letter to federal Judge Michael Dolinger in New York, prosecutors say his apparent contrition was faked, alleging that he all he really did was scam a...

A.I.G. Says It Needs 3 to 5 Years to Restructure By EDMUND L. ANDREWS WASHINGTON — Edward M. Liddy, the chairman of American International Group, said on Wednesday that the company would probably need “three to five years” to carry out its restructuring plan and repay the taxpayer money used to bail it out. AIG, once the nation’s biggest insurance conglomerate, has received more than $170 billion from the Federal Reserve and the Treasury since it collapsed in September. The Treasury owns almost 80 percent of the voting shares. The Fed and Treasury have provided the company with about $83...

Strong banks will be allowed to repay bail-out funds they received from the US government but only if such a move passes a test to determine whether it is in the national economic interest, a senior administration official has told the Financial Times. “Our general objective is going to be what is good for the system,” the senior official said. “We want the system to have enough capital.”

School districts and local governments are entitled to be repaid for the cost of running programs the state Legislature requires them to operate, a Sacramento County Superior Court judge ruled in a decision published Monday. The California School Boards Association, the city of Newport Beach, Sweetwater Union High School District in San Diego County and the counties of Fresno and Los Angeles sued the state over a bill passed in 2005. They objected because it allowed the state to avoid reimbursing school districts for the costs associated with operating state mandated-programs. In a ruling dated March 13 but published Monday,...

MOSCOW, February 18 (Itar-Tass) -- Russia has transferred about 1.5 billion euros to member countries of the Paris Club in payment of the main debt and interest, a source in the Russian Finance Ministry told Prime Tass. Russia transferred $400 million and 1.2 million euros via Vnesheconombank on February 17 and 18. Russia’s debt to the Paris Club made $44.4 billion (36 billion euros) as of October 1, 2004, the source said. Russia is holding negotiations on pre-term payment of the debt with the Paris Club members. It has suggested paying the debt within three years with annual transfers of...

MOSCOW - Russia has repaid it debt to International Monetary Fund, having transferred USD3.3bn to the IMF on January 31, Russian finance minister Alexey Kudrin has told journalists. According to the schedule, Russia was due to settle its debt before 2008. Thus, it will be able to save USD204m in interest, which was to be accrued on its debt otherwise. The ministry plans to allocate these funds for the implementation of social and economic projects in Russia, Kudrin announced.The Russian government decided to repay its debt to the IMF ahead of the schedule on January 31. Prime Minister Mikhail Frodkov...

Just received the following email in my inbox. Could somebody tell me if this is real or a hoax? I'm a little concerned about it, so I thought I would ask you guys for some answers. Here it is: Dear Fellow American, As we fight a war in the Middle East, the politicans are still spending our money like it grows on trees. The National Debt is now over 7.6 TRILLION dollars (7,600,000,000,000) but they do not do anything about it. Interest on the debt consumed 7% of the national budget in 2003 (check your IRS tax booklet pie chart...

<p>Backing away from political controversy, Gov. Gray Davis decided Thursday that he won't ask taxpayers to cover his campaign costs if he wins the October recall election.</p> <p>Davis had said Wednesday that he was undecided about whether to seek millions of dollars in reimbursement for his campaign costs, but he issued a statement Thursday saying he would not ask for repayment.</p>