What is going on with student loans?
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Anonymous
| Why is the president allowed to just hand out money like this? These loans should go back to banks so taxpayers don't have to foot the bill. |
Anonymous
you too can go jump off a cliff! |
Anonymous
He isn't. This will not fly. |
Anonymous
| It’s simply a naked attempt to buy votes. It addresses none of the underlying issues around student debt and soaring education costs and is just the sort of political theater that has led to deep distrust in government. It’s truly shameful. |
Anonymous
It comes from the Strategic Vote Buying Reserve. Its right there in the Constitution. |
Anonymous
| When you make the announcement re: school loan forgiveness, it’s inflationary. |
Anonymous
I've heard people on DCUM saying this since it's been announced, but every preliminary injunction so far has been denied. Millions of loans have already been forgiven. Not much the courts can do about those at this point. A ruling two years from now that the program was illegal will be pretty meaningless as a practical matter. |
Anonymous
Yeah, not happening. |
Anonymous
Aw, sorry you got tax breaks from Trump but Biden is helping everyone else. Student loans don't create any distrust in government other than for those deeply in debt. Really, Republicans on this issue really need to stop pretending to be fiscally conservative, it's not in the MAGA platform. |
Anonymous
Because the Republicans in 2003 gave the President this power during national emergencies. They passed a law called The Heroes Act and GWB signed it into law. The law literally allows the Secretary of Education to "waive or modify any statutory or regulatory provision applicable to the student financial assistance programs" during a national emergency, like COVID. https://www.law.cornell.edu/uscode/text/20/1098bb |
Anonymous
Banks don't want to be in the student loan business, unless you're a high paid lawyer, doctor, or dentist. The default rates are way too high. In hindsight, Obama did a huge favor to these banks by forcing them out of the student loan business and making 94% of loans to be Direct Loans held by the Department of Education. The banks would've been so f#cked had they kept all those student loans that have defaulted in the past 5 years or stopped payments. |
Anonymous
Biden is NOT helping everybody else. In fact, he is hurting those of us who will end up paying these loans through our taxes when we never signed for the loans to begin with. And, many can make the argument that he is harming those he claims to be helping by teaching them that loans are something that are optional........ |
Anonymous
Did happen |
Anonymous
|
Also this happened - from the WSJ
“A federal judge in Missouri denied a request by a group of Republican state leaders to block the Biden administration’s student-loan forgiveness program, a boost for the White House as it plans to begin canceling debt in the coming days.” |
Anonymous
Told ya: https://amp.cnn.com/cnn/2022/10/20/politics/student-loan-forgiveness-supreme-court-amy-coney-barrett/index.html |