What is going on with student loans?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Check out #86: https://storage.courtlistener.com/recap/gov.uscourts.moed.198213/gov.uscourts.moed.198213.1.0_1.pdf

Each state generally has a state-chartered corporation that originates and services loans and the complaint is that they lose revenue because they are the ones ultimately that have to write off the debt. Moreover the states complain that they lose income tax revenue since loan forgiveness is not considered income. This seems like legit to me for standing, imho.

Wrong! Shaky argument at best.

Declarative statements aren't evidence. Care to share why you think it's a "shaky argument at best?"

[Anonymous]

Great response from Biden. This scrambles the midterms. Dems can channel the outrage.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Y’all girl Amy didn’t stop this! But I don’t expect y’all stop trying.

And responsible people don’t expect you people to stop begging for handouts.

The Democrats seek to help people. The GOP makes it mother effing rain for their deep pocketed cronies. And you want to moan about “handouts”?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Check out #86: https://storage.courtlistener.com/recap/gov.uscourts.moed.198213/gov.uscourts.moed.198213.1.0_1.pdf

Each state generally has a state-chartered corporation that originates and services loans and the complaint is that they lose revenue because they are the ones ultimately that have to write off the debt. Moreover the states complain that they lose income tax revenue since loan forgiveness is not considered income. This seems like legit to me for standing, imho.

Wrong! Shaky argument at best.

Declarative statements aren't evidence. Care to share why you think it's a "shaky argument at best?"

Boo hoo! We states didn’t rake in extra tax money from federal loan forgiveness that doesn’t f@cking have anything to do with us! Let me find the tiniest violin for this absolutely ridiculous tragedy!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Check out #86: https://storage.courtlistener.com/recap/gov.uscourts.moed.198213/gov.uscourts.moed.198213.1.0_1.pdf

Each state generally has a state-chartered corporation that originates and services loans and the complaint is that they lose revenue because they are the ones ultimately that have to write off the debt. Moreover the states complain that they lose income tax revenue since loan forgiveness is not considered income. This seems like legit to me for standing, imho.

Wrong! Shaky argument at best.

Declarative statements aren't evidence. Care to share why you think it's a "shaky argument at best?"

The states wouldn’t get the revenue either way, so how are they harmed such that they would have standing? This won’t hold up?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Check out #86: https://storage.courtlistener.com/recap/gov.uscourts.moed.198213/gov.uscourts.moed.198213.1.0_1.pdf

Each state generally has a state-chartered corporation that originates and services loans and the complaint is that they lose revenue because they are the ones ultimately that have to write off the debt. Moreover the states complain that they lose income tax revenue since loan forgiveness is not considered income. This seems like legit to me for standing, imho.

Wrong! Shaky argument at best.

Declarative statements aren't evidence. Care to share why you think it's a "shaky argument at best?"

The states wouldn’t get the revenue either way, so how are they harmed such that they would have standing? This won’t hold up?

DP, I don't follow your logic. State entities, like MOHELA, will not collect interest on the principal forgiven. Biden effectively increased prepayment risk for their portfolio of student loans.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Check out #86: https://storage.courtlistener.com/recap/gov.uscourts.moed.198213/gov.uscourts.moed.198213.1.0_1.pdf

Each state generally has a state-chartered corporation that originates and services loans and the complaint is that they lose revenue because they are the ones ultimately that have to write off the debt. Moreover the states complain that they lose income tax revenue since loan forgiveness is not considered income. This seems like legit to me for standing, imho.

Wrong! Shaky argument at best.

Declarative statements aren't evidence. Care to share why you think it's a "shaky argument at best?"

The District Court Judge ruled yesterday that the states are not harmed. The tax argument is especially stupid. States can change their tax laws.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Check out #86: https://storage.courtlistener.com/recap/gov.uscourts.moed.198213/gov.uscourts.moed.198213.1.0_1.pdf

Each state generally has a state-chartered corporation that originates and services loans and the complaint is that they lose revenue because they are the ones ultimately that have to write off the debt. Moreover the states complain that they lose income tax revenue since loan forgiveness is not considered income. This seems like legit to me for standing, imho.

Wrong! Shaky argument at best.

Declarative statements aren't evidence. Care to share why you think it's a "shaky argument at best?"

The states wouldn’t get the revenue either way, so how are they harmed such that they would have standing? This won’t hold up?

DP, I don't follow your logic. State entities, like MOHELA, will not collect interest on the principal forgiven. Biden effectively increased prepayment risk for their portfolio of student loans.

MOHELA is not a state agency. It is a separate entity. The state does not have standing on its behalf. MOHELA itself might have standing but it is not a plaintiff in this case. According to the conservative District Judge in Missouri:

[Anonymous]

My guess is that investors of student loan asset backed securities will sue.

[Anonymous]

Anonymous wrote: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.

This is like a 3rd world tactic to buy votes. During the election time, politicians come and promise free food, grains, hospitals etc and that never happens. There is no need for country to go in debt of more than $400B to pay off student loans that were incurred due to expensive education. Why aren't universities responsible for this debt when they charge any amount they want?

[Anonymous]

Anonymous wrote:My guess is that investors of student loan asset backed securities will sue.

Why, when they will still get their money?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Y’all girl Amy didn’t stop this! But I don’t expect y’all stop trying.

And responsible people don’t expect you people to stop begging for handouts.

The Democrats seek to help people. The GOP makes it mother effing rain for their deep pocketed cronies. And you want to moan about “handouts”?

You’re either hopelessly naive or an idiot. Biden is buying votes before the midterm by spending $500 billion on a program that literally does nothing to address the many problems with higher education costs and student loan programs. How can you possibly not understand that?

[Anonymous]

Anonymous wrote:My guess is that investors of student loan asset backed securities will sue.

My guess is they won’t because they don’t exist for these loans, which are all held by the federal government.

[Anonymous]

Once the GOP wins in a few weeks, they will stop this nonsense. These court cases are meant to delay the inevitable.

[Anonymous]

Anonymous wrote:Once the GOP wins in a few weeks, they will stop this nonsense. These court cases are meant to delay the inevitable.

Can they? These are executive actions, no?