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Biden to defy Supreme Court in second attempt at sweeping student loan handout
Posted on 4/6/24 at 8:15 am
Posted on 4/6/24 at 8:15 am
LINK
quote:
The Biden administration is poised to issue a proposal aimed at reducing or eliminating student loan balances for millions of borrowers, according to people familiar with the matter, marking President Biden’s second attempt at large-scale loan forgiveness.
The regulations, which are set to be issued as soon as next week, come after the Supreme Court last year overturned the administration’s first debt cancellation plan, which would have wiped away up to $20,000 in student debt for borrowers making less than $125,000 a year.
Biden is planning to outline the broad strokes of the new proposal during a speech on Monday in Madison, Wis., where he is expected to tout his administration’s wide-ranging efforts to chip away at the student debt burden facing more than 40 million Americans, the people said. A White House spokesman declined to comment.
quote:
The proposed regulation is expected to outline several categories that would qualify borrowers for debt relief, including financial hardship, the people said. For example, borrowers with high debt loads and low incomes could see their loan balances reduced or eliminated under the plan. It could also outline a path to relief for borrowers who have carried their debt for decades; who now owe more than their initial loan amount because interest has piled up; or who are eligible for relief through other federal programs, but haven’t applied.
quote:
Administration officials expect that the final rule will be challenged in court, but they think they are on solid legal footing. The new approach, they argue, is more tailored because it outlines specific conditions for debt cancellation, a contrast with the more sweeping plan that was overturned by the Supreme Court.
quote:
A handful of Republican state attorneys general signaled on Friday their intentions to bring legal challenges to the program once it is finalized.
“It appears that the proposal will be another attempt to circumvent the Supreme Court’s initial ruling to help the President garner votes in November,” said a spokeswoman for Austin Knudsen, Montana’s attorney general.
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Posted on 4/6/24 at 8:18 am to WPBTiger
quote:
high debt loads
That's one way to get people to stimulate the economy.
Posted on 4/6/24 at 8:19 am to WPBTiger
This should be grounds for impeachment and immediate removal from office.
Posted on 4/6/24 at 8:20 am to WPBTiger
I bet you still have to be considered a government employee or work for a nonprofit and have to have been paying on it at least 10 years.
They are just retreading an old tire.
This administration is desperate for votes. More than half the people excited about this don’t even know they don’t qualify.
They are just retreading an old tire.
This administration is desperate for votes. More than half the people excited about this don’t even know they don’t qualify.
This post was edited on 4/6/24 at 8:30 am
Posted on 4/6/24 at 8:22 am to BHS78
A bunch of democrats run colleges with worthless degrees. They create free money which allows them to run up the price to get those degrees. The negative consequences of making a bad investment are removed and the price of useless degrees continues to increase.
Democrats getting richer as administrators and professors selling useless degrees to students.
Democrats getting richer as administrators and professors selling useless degrees to students.
Posted on 4/6/24 at 8:24 am to WPBTiger
All debts are paid.
If the borrower doesn't, it means the lender paid.
If the borrower doesn't, it means the lender paid.
Posted on 4/6/24 at 8:34 am to WPBTiger
Biden can do WHATEVER he wants...
Congress won't do anything and neither will the DOJ.
What else could be done?
Congress won't do anything and neither will the DOJ.
What else could be done?
Posted on 4/6/24 at 8:44 am to WPBTiger
I would expect nothing less from that worthless old fart
Posted on 4/6/24 at 8:47 am to papasmurf1269
Its all for show to get votes. The clueless will buy it and vote Dem.
Posted on 4/6/24 at 8:51 am to WPBTiger
quote:
Biden to defy Supreme Court i
How is a new regulation doing this, exactly?
The last regulation was unconstitutional due to very specific framework based around a specific regulation and specific law.
If this is a new regulation based around a different law, then how is this "defying" anything?
Posted on 4/6/24 at 8:54 am to WPBTiger
Slippery slope they are on ignoring the Supreme Court? When and if a conservative gets back in the White House could pull all kinds of stuff.
Posted on 4/6/24 at 8:59 am to WPBTiger
This has nothing to do with last year's Supreme Court decision which declared that the Executive Branch didn't have the authority to eliminate student debt carte blanche.
This is targeted debt elimination, which has stood up in the past (Trump even did this with HBCUs).
The likelihood of this being allowed is much higher.
This is targeted debt elimination, which has stood up in the past (Trump even did this with HBCUs).
The likelihood of this being allowed is much higher.
Posted on 4/6/24 at 9:10 am to joshnorris14
quote:
This is targeted debt elimination, which has stood up in the past (Trump even did this with HBCUs).
The likelihood of this being allowed is much higher.
I'm not a lawyer, so help me understand....
The same action SCOTUS previously rejected could be accepted based on name change? It's an obvious manipulation.
Posted on 4/6/24 at 9:14 am to WPBTiger
The Supreme Court never wants to challenge the zillions we send to Israel or Ukraine but heaven forbid an average American benefit from something Congress does. Not on their watch!
Posted on 4/6/24 at 9:34 am to 4cubbies
quote:
The Supreme Court never wants to challenge the zillions we send to Israel or Ukraine but heaven forbid an average American benefit from something Congress does. Not on their watch!
You know what would really benefit average Americans? You irresponsible freeloaders paying back loans that you willingly took out so we don't have to foot your bills.
That's what
Posted on 4/6/24 at 9:37 am to WPBTiger
The primary goal of the Democrat party is to create as many dependent classes as possible. Student loan holders are just the latest iteration. In about twenty years they've managed to create a new class of people who will vote for them in exchange for having their debts transferred to taxpayers.
Posted on 4/6/24 at 10:02 am to WPBTiger
Trump gets indicted for taking out a loan and paying it back on time including the interest, and Biden wants people use took out loans to not have to pay it back.
Posted on 4/6/24 at 10:07 am to FredBear
They are the worst types of humans on this planet.
Posted on 4/6/24 at 10:10 am to 4cubbies
quote:
The Supreme Court never wants to challenge the zillions we send to Israel or Ukraine but heaven forbid an average American benefit from something Congress does. Not on their watch!
The Supreme Court doesn’t challenge anything, Oppenheimer.
They take up cases to determine constitutionality and interpret them accordingly.
You shouldn’t have missed the day they taught civics in Civics class, boo.
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