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Reply to "Canceling $10k of student loan debt is stupid."
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm really surprised he has the authority to do this via executive order. Not just the debt cancellation but also reducing IBR programs from 20 to 10 years and reducing the percentage of discretionary income paid towards loans from 10% to 5%. I imagine this will be tied up in court for quite some time.[/quote] Who is going to sue over this and on what grounds?[/quote] PP here and the grounds would be that the action exceeds his authority under the statute. No idea who will sue, there's usually a special interest group that runs these lawsuits.[/quote] Standing is a thing, and it's hard to imagine who has standing here. [/quote] PP here and probably the loan servicers who will lose some amount of revenue.[/quote]
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