Federal court strikes down Biden’s student loan forgiveness program

[Vandelay]

That would be most sensible.

Yeah, while forgiving $10 grand is great, it doesn't do shyt about tuition, and it definitely doesn't do anything for when they inevitably have to do this again in 5-7 years.

We already know tuition isn't reversing; prices never come down. At most they stay the same. The interest should be abolished and retroactively to applied to any current existing loans.

 

[Amo Husserl]

Yeah, while forgiving $10 grand is great, it doesn't do shyt about tuition, and it definitely doesn't do anything for when they inevitably have to do this again in 5-7 years.

We already know tuition isn't reversing; prices never come down. At most they stay the same. The interest should be abolished and retroactively to applied to any current existing loans.

Especially when how interest rates rise to combat inflation.
Let them people pay off the principle so they can have disposable income to put back into the pot.
Govs gone make they money anyway, let some of it go now to make more later.
Opportunity cost.
Could even slow down immigration to really build the American economy for Americans.

GZA was on to something:

nikkas so stingy they got short arms and deep pockets

 

[The Intergalactic Koala]

Welp back to plan B.

*prepares another bullshyt excuse for deferment*

This time I'm going to put down "fell from tree"

 

[Family Man]

Yeah, while forgiving $10 grand is great, it doesn't do shyt about tuition, and it definitely doesn't do anything for when they inevitably have to do this again in 5-7 years.

We already know tuition isn't reversing; prices never come down. At most they stay the same. The interest should be abolished and retroactively to applied to any current existing loans.

Exactly. The fact that it doesn't do shyt to fix the problem and actually makes the problem worse for future students and borrowers is enough of a reason to oppose this shyt.

Biden and the Democrats did this shyt while hoping the "evil" republicans would block it. These partisan muthaphuckas don't get tired of being treated like Charlie Brown. It was to get asses to the polls.

If you want to forgive student loans then it should be tied to some sort of service and it shouldn't be blanket forgiveness. If you want your loans paid off for you then go join the military or go teach in some rural backwater school or something.

 

[bnew]

I would if he pulled this off. But damn... I ain't seeing no relief... taxes high, crime high, inflation, interest rates, gas, Tech layoffs (im in tech), shyttt man...

 

[Vandelay]

Exactly. The fact that it doesn't do shyt to fix the problem and actually makes the problem worse for future students and borrowers is enough of a reason to oppose this shyt.

Biden and the Democrats did this shyt while hoping the "evil" republicans would block it. These partisan muthaphuckas don't get tired of being treated like Charlie Brown. It was to get asses to the polls.

If you want to forgive student loans then it should be tied to some sort of service and it shouldn't be blanket forgiveness. If you want your loans paid off for you then go join the military or go teach in some rural backwater school or something.

I think college is an investment in the future of the country, it shouldn't be a revenue driven scheme because the educated will create new markets and industries that the government will profit off of anyway.

It's one thing to take out 50k a year to go to school. It's another when there aren't equitable opportunities to justify taking out that much AND the interest continues to compound.

 

[MrLogic]

They know they affecting a lot college cacs with this BS.

 

[Elim Garak]

Yeah, while forgiving $10 grand is great, it doesn't do shyt about tuition, and it definitely doesn't do anything for when they inevitably have to do this again in 5-7 years.

We already know tuition isn't reversing; prices never come down. At most they stay the same. The interest should be abolished and retroactively to applied to any current existing loans.

As I recall they did make changes to the loans themselves so that you are only paying a certain percentage of your income and a few other things that make them more manageable. I will have to find the info though.

 

[FaTaL]

I thought politicians were about making deals... Do you think they should have/could have made better offers to those who opposed the student loan relief?

Quid-Pro Quo

i bet hes relieved, he never wanted to do it anyways

 

[8WON6]

So i'm seeing that the plaintiff in this case had their PPP Loan forgiven but wanna shut down other people's loan forgiveness.

Plaintiff in Lawsuit Opposing Biden Student Debt Forgiveness Had PPP Loan Forgiven

The lawsuit, aimed at ending Biden’s debt forgiveness program, is being bankrolled by a well-connected right-wing group.

theintercept.com

PLAINTIFF IN LAWSUIT OPPOSING BIDEN STUDENT DEBT FORGIVENESS HAD PPP LOAN FORGIVEN​

The lawsuit, aimed at ending Biden’s debt forgiveness program, is being bankrolled by a well-connected right-wing group.​

Ken Klippenstein
November 9 2022, 5:29 p.m.

THE PLAINTIFF IN a lawsuit seeking to overturn President Joe Biden’s student debt forgiveness program has herself been a beneficiary of debt cancellation, in the form of a Paycheck Protection Program business loan worth over twice the maximum amount covered under Biden’s program.
Myra Brown, one of two plaintiffs in the Texas lawsuit, owns Desert Star Enterprises Inc. Desert Star, which appears to be a sign-making business, was granted a $48,000 loan, of which $47,996 was forgiven on April 27, 2022. By comparison, Biden’s student debt forgiveness program provides a maximum of $20,000 in forgiveness if the person seeking relief received a federal Pell Grant and $10,000 if it wasn’t a Pell Grant. Brown argues in her case that she is being harmed by Biden’s debt relief order because she is not eligible for it; her student loans were originally funded by private companies.

 

[Vandelay]

As I recall they did make changes to the loans themselves so that you are only paying a certain percentage of your income and a few other things that make them more manageable. I will have to find the info though.

Do they make the monthly payment more manageable or is the interest reduced? Because it's one thing to make the payment manageable, but if the interest is accumulating or the overall balance isn't going anywhere...it's irrelevant. It's just making the payment manageable to keep the debt current until after they forgive it 22-25-30 years later. At that point you've probably spent well over what you took out.

Case in point; me...I took out $30k in loans, all federally subsidized. I graduated 15 years ago from college. I didn't really have gainful employment until 7 years ago. I deferred or paid the absolute minimum, and my shyt ballooned to $65k by 10 years out of school. And I make damn good money now, but I'm on a 22 year plan to pay my shyt off. They're going to get well over $100k from me when it's all said and done...off of $30k in loans.

I'm not advocating my plan because of my situation...because if I wanted i could pay it off in 4 or 5, but I'm not going to fukk up my monthly cash flow to do that. The additional money can be invested to make more than that and provide more value. But I'm fortunate. I know mad people in my exact same situation that make a third of what I do. They need the interest forgiven.

 

[AquaCityBoy]

What part of Biden doesn’t have the power to forgive debt only congress does do you not understand. What you aren’t seeing is the entire picture. The website for student loan is released right before midterms, people applied and it helped people vote democrat. Mid terms legit just ended and it’s shut down right away. How blatant is that shyt?

Pelosi says Biden doesn't have power to cancel student debt

House Speaker Nancy Pelosi on Wednesday said President Joe Biden doesn't have authority to forgive student debt. "That's not even a discussion," Pelosi said.

www.google.com

You're not making any sense.

By that logic, Biden would have been better off doing this months ago. If only congress can cancel student loan debt, and this was just a ploy to get votes for Democrats in the midterms, then he would have done this months ago, let Republicans challenge it, let it get struck down by the courts, and hope it rallies people to vote Democrat like it did with the Dobbs decision.

Democrats historically overperformed this miderm, but they didn't exactly run away with victories. So you mean to tell me he did all this just for them to keep their narrow majority in the Senate?

 

[Kyle C. Barker]

@Kyle C. Barker get in here bytch

You're such a republican bootlicker that you actually cheer on trump appointed judges fukking over people that can use the relief .


Wouldn't be surprised if this gets overturned because the argument is flimsy

 

[god shamgod]

Check out this article from USA TODAY:

Eighth Circuit Court of Appeals puts Biden's student loan debt forgiveness plan on hold

Eighth Circuit Court of Appeals puts Biden's student loan debt forgiveness plan on hold

The court's order delivers a crushing\u00a0blow to more than\u00a026 million Americans who had already applied for the relief and kills the president's signature program.

www.usatoday.com

 

[CreepyMcCreeperson]

I just got the email that my application was approved.



I’m not giving up.