4/14/2024 PM
ttps://www.businessinsider.com/gop-states-lawsuit-block-save-student-loan-income-driven-repayment-2024-4
More GOP States Sue to Block Student-Debt Relief Through SAVE Plan (businessinsider.com)
4/14/2024
ttps://www.msn.com/en-us/news/opinion/ted-cruz-biden-is-behaving-in-an-utterly-lawless-manner/vi-BB1lxiiO?ocid=msedgdhp&pc=U531&cvid=9c6717aba4c344c7b250f383a9ad2f7f&ei=101
4/12/2024
Our Troops Deserve A Raise A Lot More Than College Students Deserve Loan Forgiveness.
A reason Biden’s student-loan forgiveness attempts are so contentious is that he has tried to do it himself, through executive action, because Congress hasn’t complied with his plans. The Supreme Court last year rejected $400 billion in student loan relief because it ruled that Biden LACKED THE AUTHORITY. So Biden has sought to work around the edges in more targeted ways that could pass legal muster, including this week..
Isn’t that called ROBBING PETER TO PAY PAUL? And, Biden is doing it for an ulterior motive which is to garner votes which is also illegal.
Is Democracy dying in the darkness of the White House?
*****
Reblogged on kommonsentsjane/blogkommonsents.
KOMMONSENTSJANE – APPEALS COURT BLOCK BIDEN’S STUDENT LOAN CANCELLATION EFFORTS – Almost certainly unlawful.
Posted on April 6, 2024 by kommonsentsjane
4/6/2024
You cry my body my choice. I say your student loan, your debt.
Appeals court block Biden’s student loan cancellation efforts.
If you made the bill – you pay the bill.
ttps://www.msn.com/en-us/news/politics/appeals-court-blocks-biden-s-student-loan-cancellation-efforts-almost-certainly-unlawful/ar-BB1l9gjx?ocid=msedgdhp&pc=U531&cvid=def6a77a01704f588d6d4f4fd6bf8786&ei=46
kommonsentsjane
******
What a hoot – what is the purpose? If it is to garner votes – like his mind – he is one mixed up dude.
ttps://www.msn.com/en-us/money/news/biden-administration-unveils-plan-to-transfer-student-debt-burden-to-taxpayers-forgiving-loans-for-millions/vi-BB1lsJyC?ocid=msedgntp&pc=U531&cvid=88776e9fdfc540f79f46c98da1a21b7f&ei=11
He has lost it – kicking and screaming to make citizens pay for someone else’s bill:
President Joe Biden announces a new plan for federal student loan relief during a visit to Madison Area Technical College Truax Campus, in Madison, Wis., April 8, 2024.© Kevin Lamarque/Reuters
The Biden administration on Friday announced yet another student-loan debt giveaway, this time passing $7.4 billion in debt accumulated by an estimated 277,000 Americans to taxpayers through the Saving on a Valuable Education (SAVE) income-repayment plan and other similar repayment options.
To date, the Biden administration has canceled $153 billion of student debt for 4.3 million Americans through executive action.
The latest student-debt forgiveness policy comes after the Biden administration announced a plan to transfer $20,000 in accrued interest per borrower for 23 million Americans onto taxpayers, and forgive all student debt for roughly 2 million borrowers eligible for SAVE, Public Service Loan Forgiveness (PSLF), and other repayment plans.
Under the Biden administration’s new policy, borrowers eligible for the various repayment plans will have their debt wiped out even if they did not submit an application for the plans. Those who have been paying back student loans for 20 years and individuals that borrowed money to enroll in low-value education programs will also benefit from the Biden administration’s student-debt forgiveness plan. Furthermore, people experiencing “hardship” will also be eligible.
Biden Administration Unveils Plan to Transfer Student Debt Burden to Taxpayers, Forgiving Loans for Millions
A cost figure was not included for each section of the Biden administration’s massive student-debt forgiveness scheme. An estimated 30 million Americans will financially benefit from the Biden administration’s various student-loan forgiveness schemes if the plan survives legal scrutiny.
PSLF was used by the Biden administration last month to wipe out almost $6 billion of debt for 78,000 employees concentrated in the government and non-profit sectors. The Department of Education has greatly expanded PSLF eligibility to forgive over $60 billion of student debt since October 2021.
SAVE is an income-based repayment plan enacted by the Biden administration last year estimated to cost $475 billion over a ten-year period. The White House announcement touts 8 million SAVE enrollees and 4.5 million of them with zero interest payments due to the SAVE plan. The SAVE formula allows borrowers to waive unpaid interest payments and reduces student-loan payments by changing how income is calculated.
Republican attorneys general have launched legal challenges to the SAVE plan after the Supreme Court last year struck down a similar plan by the Biden administration to forgive over $400 billion of student debt under the HEROES Act. President Biden openly bragged last year about his plan to defy the Supreme Court by equipping the Higher Education Act this time around to create the SAVE plan.
Student-debt forgiveness will likely play well with progressive young voters, a key portion of Biden’s coalition dissatisfied with the administration over its support for Israel.
“GIVE TO THE WORLD THE BEST YOU HAVE,
AND THE BEST WILL COME BACK TO YOU.“
kommonsentsjane
