Student Loan Forgiveness

[Ann]

Federal student loan forgiveness program fulfills an elusive promise: To erase debts

Over 70,000 student borrowers have qualified for debt forgiveness since the Education Department overhauled the program last fall. But another deadline is looming.

</snip>

[Foxx]

Biden plans to announce $10K loan forgiveness  for borrowers who made less than $150K last year, at some point before the mid-terms. Buying votes, plain and simple, to the tune of $230 billion dollars.

 

He's going to need to buy a whole lot &#%$ing more.

[Billsandhorns]

8 minutes ago, Foxx said:

Biden plans to announce $10K loan forgiveness  for borrowers who made less than $150K last year, at some point before the mid-terms. Buying votes, plain and simple, to the tune of $230 billion dollars.

 

He's going to need to buy a whole lot &#%$ing more.

And  using taxpayer dollars to do it 

[Ann]

 

[SackMan518]

[Ann]

Not so fast….

 

Biden administration tightens student loan forgiveness amid legal challenges

 

The Biden administration is pulling back on its student debt relief program amid numerous legal challenges, including six new lawsuits filed by Republican-led states.

 

In a reversal from Biden’s original sweeping proposal in August to cancel federal student loans up to $20,000, the US Department of Education announced Thursday that it would not forgive debt from borrowers whose student loans are owned by private entities.

 

The White House faced its first legal challenges to the controversial program this week, which the nonpartisan Congressional Budget Office estimated Monday would cost taxpayers $400 billion.
 

In the newest lawsuit filed in federal court in Missouri on Thursday, Republican attorney generals from Arkansas, Iowa, Kansas, Missouri, Nebraska, and South Carolina requested that the relief program be shut down, arguing it’s unconstitutional and that it does “not remotely tailored to address the effects of the pandemic on federal student loan borrowers.”

 

 

</snip>
 

 

The DOE said Thursday that those who have already applied for consolidated loan forgiveness by Sept, 29 would still receive it, however debt relief for those loans will no longer be available.

 

“As of Sept. 29, 2022, borrowers with federal student loans not held by ED cannot obtain one-time debt relief by consolidating those loans into Direct Loans,” the DOE said in an update on its website.

 

“Borrowers with [Federal Family Education Loan] FFEL Program loans and Perkins Loans not held by ED who have applied to consolidate into the Direct Loan program prior to Sept. 29, 2022, are eligible for one-time debt relief through the Direct Loan program.”
 

</snip>

[Ann]

Full speed ahead

 

 

 

 

 

 

 

[Ann]

US judge in Texas blocks President Biden's student debt forgiveness plan

 

A U.S. District Court in Texas on Thursday night blocked President Joe Biden's student loan forgiveness program on the grounds that the administration didn't have the authority to act.

 

The fresh injunction is in addition to a block from the Eighth U.S. Circuit Court of Appeals, which put the program on hold nearly three weeks ago while it considered a separate lawsuit brought by six states challenging the program and the president's authority to act.

 

The administration has said it can offer far-reaching loan forgiveness under a 2003 law that allows for such measures during national emergencies. In this case, that emergency is the pandemic.

</snip>

 

 

 

[Foxx]

Denied! Next up. the Supreme Court.

 

[B-Man]

 

 

But of course.

 

 

Leftists Ready To Blame Republicans When SCOTUS Strikes Down Biden’s Unconstitutional Student Loan Forgiveness

 

 

https://legalinsurrection.com/2023/03/leftists-ready-to-blame-republicans-when-scotus-strikes-down-bidens-unconstitutional-student-loan-forgiveness/

[Foxx]

The Supremes are going to allow it

 

 

[snafu]

3 minutes ago, Foxx said:

The Supremes are going to allow it

 

 

Am I mistaken?

I think this is a different matter than the Biden forgiveness plan.

 

[Foxx]

5 minutes ago, snafu said:

Am I mistaken?

I think this is a different matter than the Biden forgiveness plan.

 

Geeze, I don't know. Could be I'm mistaken.

[B-Man]

The decision is not related to a challenge to President Biden’s attempts to cancel up to $20,000 in student loan debt for 40 million Americans. That case is expected to be decided by the court this summer.

 

https://thehill.com/regulation/court-battles/3950224-supreme-court-refuses-to-stop-6-billion-student-loan-debt-settlement/

[Ann]

47 minutes ago, snafu said:

Am I mistaken?

I think this is a different matter than the Biden forgiveness plan.

 

 

looks like

 

 

[Foxx]

:sigh:

https://twitter.com/unusual_whales/status/1655898156532666368

[Foxx]

Double facepalm

 

[Keukasmallie]

 

I need some explanations to help me understand the whole student debt forgiveness deal.  What/who are the lending organizations; are they private or public lending sources?  Does forgiveness mean the original borrower [student] no longer has to pay; BUT the government pays off the lenders to make them whole?

 

(In which case God remains the only true source of forgiveness..)

 

 

[Ann]

 

[Billsandhorns]

37 minutes ago, Ann said:

 

Openly admitting to breaking law because his handlers know nothing will happen to him