What is going on with student loans?

[Anonymous]

Think it's laughable to bring up politics of the court justices regarding this matter when this loan cancelation was a naked political play to influence/buy votes before a consequential off year election.

Biden could have enacted this way earlier when the pandemic was actually raging with all the other covid programs or actually tailored it to people that actually needed loan forgiveness like Pell recipients so its not some half trillion giveaway but they didnt.

[Anonymous]

What’s in it for kids who are going to college now?

[Anonymous]

Anonymous wrote:Think it's laughable to bring up politics of the court justices regarding this matter when this loan cancelation was a naked political play to influence/buy votes before a consequential off year election.

Biden could have enacted this way earlier when the pandemic was actually raging with all the other covid programs or actually tailored it to people that actually needed loan forgiveness like Pell recipients so its not some half trillion giveaway but they didnt.

It doesn’t matter if it was a “naked political ploy to buy votes” or if the size of forgiveness is half a trillion dollars or if it does nothing to address the root causes of college unaffordability. Congress - quite literally - passed and amended a law that gave Sec. Of Education very wide latitude to “amend” and “waive” the federal student loan programs. Congress had multiple bites at the apple to reign in this authority, limit it to only first responders, explicitly exclude debt cancelation, etc. It choose to never do any of those things.

The law is very clear about the authority delegated to the Sec of Education. We can disagree with the political impact or relative wisdom of making such decision in terms of incentives. It may not be “fair” to others who scrimped and saved. But we now have the Supreme Court questioning whether the law is the law. That the law doesn’t actually mean what it clearly says and, by the way, you need to go to Congress again and ask permission because some segment of society doesn’t like the outcome or the politics of the issue. That is sheer anarchy. The SC is on the verge of saying the law means nothing if 5 justices disagree politically.

Frankly, that’s nuts.

[Anonymous]

For whatever reason, Parent Plus Loans never seem to be factored into publicly available data. They’re the real issue. Very few folks who finished their degrees will struggle to pay off only $20-30k in Stafford Loans on 10 year plan. The problem is, those families usually have another $100k in PPLs. Lots of families borrowing the full $140k COA at places like Pitt & Penn State in particular.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Think it's laughable to bring up politics of the court justices regarding this matter when this loan cancelation was a naked political play to influence/buy votes before a consequential off year election.

Biden could have enacted this way earlier when the pandemic was actually raging with all the other covid programs or actually tailored it to people that actually needed loan forgiveness like Pell recipients so its not some half trillion giveaway but they didnt.

It doesn’t matter if it was a “naked political ploy to buy votes” or if the size of forgiveness is half a trillion dollars or if it does nothing to address the root causes of college unaffordability. Congress - quite literally - passed and amended a law that gave Sec. Of Education very wide latitude to “amend” and “waive” the federal student loan programs. Congress had multiple bites at the apple to reign in this authority, limit it to only first responders, explicitly exclude debt cancelation, etc. It choose to never do any of those things.

The law is very clear about the authority delegated to the Sec of Education. We can disagree with the political impact or relative wisdom of making such decision in terms of incentives. It may not be “fair” to others who scrimped and saved. But we now have the Supreme Court questioning whether the law is the law. That the law doesn’t actually mean what it clearly says and, by the way, you need to go to Congress again and ask permission because some segment of society doesn’t like the outcome or the politics of the issue. That is sheer anarchy. The SC is on the verge of saying the law means nothing if 5 justices disagree politically.

Frankly, that’s nuts.

Kind of ironic that they are doing this with the HEROES Act.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Think it's laughable to bring up politics of the court justices regarding this matter when this loan cancelation was a naked political play to influence/buy votes before a consequential off year election.

Biden could have enacted this way earlier when the pandemic was actually raging with all the other covid programs or actually tailored it to people that actually needed loan forgiveness like Pell recipients so its not some half trillion giveaway but they didnt.

It doesn’t matter if it was a “naked political ploy to buy votes” or if the size of forgiveness is half a trillion dollars or if it does nothing to address the root causes of college unaffordability. Congress - quite literally - passed and amended a law that gave Sec. Of Education very wide latitude to “amend” and “waive” the federal student loan programs. Congress had multiple bites at the apple to reign in this authority, limit it to only first responders, explicitly exclude debt cancelation, etc. It choose to never do any of those things.

The law is very clear about the authority delegated to the Sec of Education. We can disagree with the political impact or relative wisdom of making such decision in terms of incentives. It may not be “fair” to others who scrimped and saved. But we now have the Supreme Court questioning whether the law is the law. That the law doesn’t actually mean what it clearly says and, by the way, you need to go to Congress again and ask permission because some segment of society doesn’t like the outcome or the politics of the issue. That is sheer anarchy. The SC is on the verge of saying the law means nothing if 5 justices disagree politically.

Frankly, that’s nuts.

Kind of ironic that they are doing this with the HEROES Act.

They are just grabbing at straws to get this boondoggle through. Actual HEROES act was meant for active military, people in natural disaster areas or people affected by wars and national emergencies.

Hardly covers the deadbeats that have a college education that have a job and means to pay or people that were not even actually in the US when the pandemic was occurring.

Getting congressional action on mass cancellation is a fantasy unless there is a super majority of Bernie/Warren/Japayal democrats elected. The more reasonable/sensible legislative action is to allow people to discharge their debts in bankruptcy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Think it's laughable to bring up politics of the court justices regarding this matter when this loan cancelation was a naked political play to influence/buy votes before a consequential off year election.

Biden could have enacted this way earlier when the pandemic was actually raging with all the other covid programs or actually tailored it to people that actually needed loan forgiveness like Pell recipients so its not some half trillion giveaway but they didnt.

It doesn’t matter if it was a “naked political ploy to buy votes” or if the size of forgiveness is half a trillion dollars or if it does nothing to address the root causes of college unaffordability. Congress - quite literally - passed and amended a law that gave Sec. Of Education very wide latitude to “amend” and “waive” the federal student loan programs. Congress had multiple bites at the apple to reign in this authority, limit it to only first responders, explicitly exclude debt cancelation, etc. It choose to never do any of those things.

The law is very clear about the authority delegated to the Sec of Education. We can disagree with the political impact or relative wisdom of making such decision in terms of incentives. It may not be “fair” to others who scrimped and saved. But we now have the Supreme Court questioning whether the law is the law. That the law doesn’t actually mean what it clearly says and, by the way, you need to go to Congress again and ask permission because some segment of society doesn’t like the outcome or the politics of the issue. That is sheer anarchy. The SC is on the verge of saying the law means nothing if 5 justices disagree politically.

Frankly, that’s nuts.

Kind of ironic that they are doing this with the HEROES Act.

They are just grabbing at straws to get this boondoggle through. Actual HEROES act was meant for active military, people in natural disaster areas or people affected by wars and national emergencies.

Hardly covers the deadbeats that have a college education that have a job and means to pay or people that were not even actually in the US when the pandemic was occurring.

Getting congressional action on mass cancellation is a fantasy unless there is a super majority of Bernie/Warren/Japayal democrats elected. The more reasonable/sensible legislative action is to allow people to discharge their debts in bankruptcy.

WTF did you think COVID was? Trump declared it a national emergency. It squarely falls into the applicability of the HEROES Act.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Think it's laughable to bring up politics of the court justices regarding this matter when this loan cancelation was a naked political play to influence/buy votes before a consequential off year election.

Biden could have enacted this way earlier when the pandemic was actually raging with all the other covid programs or actually tailored it to people that actually needed loan forgiveness like Pell recipients so its not some half trillion giveaway but they didnt.

It doesn’t matter if it was a “naked political ploy to buy votes” or if the size of forgiveness is half a trillion dollars or if it does nothing to address the root causes of college unaffordability. Congress - quite literally - passed and amended a law that gave Sec. Of Education very wide latitude to “amend” and “waive” the federal student loan programs. Congress had multiple bites at the apple to reign in this authority, limit it to only first responders, explicitly exclude debt cancelation, etc. It choose to never do any of those things.

The law is very clear about the authority delegated to the Sec of Education. We can disagree with the political impact or relative wisdom of making such decision in terms of incentives. It may not be “fair” to others who scrimped and saved. But we now have the Supreme Court questioning whether the law is the law. That the law doesn’t actually mean what it clearly says and, by the way, you need to go to Congress again and ask permission because some segment of society doesn’t like the outcome or the politics of the issue. That is sheer anarchy. The SC is on the verge of saying the law means nothing if 5 justices disagree politically.

Frankly, that’s nuts.

Congress CANNOT waive its right to control the federal student loan program.

Spending bills go thru congress. No statute overrides the U.S. Constitution.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Think it's laughable to bring up politics of the court justices regarding this matter when this loan cancelation was a naked political play to influence/buy votes before a consequential off year election.

Biden could have enacted this way earlier when the pandemic was actually raging with all the other covid programs or actually tailored it to people that actually needed loan forgiveness like Pell recipients so its not some half trillion giveaway but they didnt.

It doesn’t matter if it was a “naked political ploy to buy votes” or if the size of forgiveness is half a trillion dollars or if it does nothing to address the root causes of college unaffordability. Congress - quite literally - passed and amended a law that gave Sec. Of Education very wide latitude to “amend” and “waive” the federal student loan programs. Congress had multiple bites at the apple to reign in this authority, limit it to only first responders, explicitly exclude debt cancelation, etc. It choose to never do any of those things.

The law is very clear about the authority delegated to the Sec of Education. We can disagree with the political impact or relative wisdom of making such decision in terms of incentives. It may not be “fair” to others who scrimped and saved. But we now have the Supreme Court questioning whether the law is the law. That the law doesn’t actually mean what it clearly says and, by the way, you need to go to Congress again and ask permission because some segment of society doesn’t like the outcome or the politics of the issue. That is sheer anarchy. The SC is on the verge of saying the law means nothing if 5 justices disagree politically.

Frankly, that’s nuts.

Kind of ironic that they are doing this with the HEROES Act.

They are just grabbing at straws to get this boondoggle through. Actual HEROES act was meant for active military, people in natural disaster areas or people affected by wars and national emergencies.

Hardly covers the deadbeats that have a college education that have a job and means to pay or people that were not even actually in the US when the pandemic was occurring.

Getting congressional action on mass cancellation is a fantasy unless there is a super majority of Bernie/Warren/Japayal democrats elected. The more reasonable/sensible legislative action is to allow people to discharge their debts in bankruptcy.

WTF did you think COVID was? Trump declared it a national emergency. It squarely falls into the applicability of the HEROES Act.

No. Review the language of the heroes act. Do not read things into it that you want.

[Anonymous]

Covid is over. The emergency is over.

[Anonymous]

Pretty spot on assessment by the NY times Daily podcast and their supreme court correspondent. TLDR they expect Biden to lose.


https://www.nytimes.com/2023/03/02/podcasts/the-daily/scotus-student-debt-relief.html

[Anonymous]

Anonymous wrote:Covid is over. The emergency is over.

Biden cant claim covid emergency is over and the economy is back and then enact mass cancellation in the name of the covid. Cant have it both ways.

Would have been on more sound footing if he had done it sooner and kept it smaller rather than aiming for mass cancellation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Covid is over. The emergency is over.

Biden cant claim covid emergency is over and the economy is back and then enact mass cancellation in the name of the covid. Cant have it both ways.

Would have been on more sound footing if he had done it sooner and kept it smaller rather than aiming for mass cancellation.

He did this while the emergency was in effect. Why are you people so damn stupid?

[Anonymous]

Good review of the SC arguments. The conservative justices express personal anathema and desperately want to issue a Major Questions ruling. But none of the plaintiffs have legit standing to bring the case to the court.

I really think the justices are going to kick this back based on standing. Best case scenario is that the loan servicer MOHELA sues at some point in the future. I’m not sure how the SC is going to get around standing; all these plaintiffs have tortured standing.

https://www.nytimes.com/2023/02/28/us/politics/student-loan-supreme-court-biden.html?smid=url-share

[Anonymous]

Isnt the federal government in the student loan business because it was how they passed obamacare and claim it was going to be "paid for". The same administration Biden was the VP at the time.

Well pretty convenient he now wants to forgive half a trillion dollars of that debt with no mention of obamacare. Can only hope the supreme court strikes this travesty down asap.