Biden extends $9 billion more of student debt relief to 125,000 borrowers

[ptif219]

How long before the supreme court stops this again. Biden loves to add debt he does not care if we go bankrupt


https://www.washingtonexaminer.com/...extends-student-debt-relief-125-000-borrowers

President Joe Biden announced Wednesday $9 billion in new student loan debt relief for 125,000 borrowers.

White House officials called the move a "key step" in his efforts "to fix the broken student loan system, make college more affordable, and bring the promise of higher education in reach for more Americans."The relief itself comes in the form of restructured income-driven repayment plans and Public Service Loan Forgiveness, the core focus of Biden's debt agenda following the Supreme Court's striking down of his unilateral cancellation earlier this year.

In total, $5.2 billion of Wednesday's allotment will be extended to 53,000 borrowers through Public Service Loan Forgiveness programs, and $2.8 billion comes from amending income-driven repayment plans so that "borrowers who made 20 years or more of payments" can receive "the relief they were entitled to," according to the White House.

Biden also wiped $1.2 billion in loan debt for 22,000 borrowers with "a total or permanent disability."

Since entering office, Biden has approved roughly $127 billion in student loan debt cancellation for 3.6 million borrowers.

White House officials also criticized Republican lawmakers seeking to reverse student loan cancellation efforts. GOP members have balked at widespread debt forgiveness plans as an unfair transfer of costs to taxpayers who paid off their debts or never attended college.

 

[Port Tack]

The loan foregiveness for public service was initiated by a Republican, it isn't the across the board $10,000 credit that Biden tried to initiate with an executive order. If you graduate and go into public service for 10 years then your student debt is erased. The supreme court does not make law and cannot stop this type of loan forgiveness.


The Public Service Loan Forgiveness (PSLF) program, signed into law by President George W. Bush in 2007, allows certain not-for-profit and government employees to have their federal student loans canceled after 10 years of on-time payments.[/QUOTE]

 

[Yakuda]

The loan foregiveness for public service was initiated by a Republican, it isn't the across the board $10,000 credit that Biden tried to initiate with an executive order. If you graduate and go into public service for 10 years then your student debt is erased. The supreme court does not make law and cannot stop this type of loan forgiveness.


The Public Service Loan Forgiveness (PSLF) program, signed into law by President George W. Bush in 2007, allows certain not-for-profit and government employees to have their federal student loans canceled after 10 years of on-time payments.

[/QUOTE]

First this is a great idea and is not at all like Biden loan forgiveness. They had to give something back, in this case their time, to receive the benefit. People were given those loans in good faith with the expectation that they'd pay it back.

Also how does this type of loan forgiveness "... fix the broken student loan system, make college more affordable,..."?

 

[Nordberg]

In fact, saddling college students with an educational mortgage is detrimental to the economy. It makes money for banks and schools. However, the financial burden keeps grads from buying homes, cars, and other products.

 

[ptif219]

The loan foregiveness for public service was initiated by a Republican, it isn't the across the board $10,000 credit that Biden tried to initiate with an executive order. If you graduate and go into public service for 10 years then your student debt is erased. The supreme court does not make law and cannot stop this type of loan forgiveness.


The Public Service Loan Forgiveness (PSLF) program, signed into law by President George W. Bush in 2007, allows certain not-for-profit and government employees to have their federal student loans canceled after 10 years of on-time payments.

[/QUOTE]

Good luck with that we shall see if anyone takes it to the Supreme Court

 

[Into the Night]

The loan foregiveness for public service was initiated by a Republican, it isn't the across the board $10,000 credit that Biden tried to initiate with an executive order. If you graduate and go into public service for 10 years then your student debt is erased. The supreme court does not make law and cannot stop this type of loan forgiveness.


The Public Service Loan Forgiveness (PSLF) program, signed into law by President George W. Bush in 2007, allows certain not-for-profit and government employees to have their federal student loans canceled after 10 years of on-time payments.

[/QUOTE]

The Supreme Court can nullify any law that is unconstitutional, no matter if the law was signed by Bush or done as an executive order by Biden.
The entire student loan program itself is unconstitutional.

NOTHING gives Congress authority to act as a bank.

 

[Into the Night]

[/I]

First this is a great idea and is not at all like Biden loan forgiveness. They had to give something back, in this case their time, to receive the benefit. People were given those loans in good faith with the expectation that they'd pay it back.

Also how does this type of loan forgiveness "... fix the broken student loan system, make college more affordable,..."?[/QUOTE]

This whole thing was unconstitutional in the first place. It is unconstitutional for Congress to have even made the loans in the first place.
NOTHING gives Congress authority to act as a bank.

 

[Into the Night]

In fact, saddling college students with an educational mortgage is detrimental to the economy. It makes money for banks and schools. However, the financial burden keeps grads from buying homes, cars, and other products.

No, it doesn't. It only keeps those that were fool enough to put themselves under this burden from buying homes, cars, or other products.
Not all graduates are affected.

 

[Into the Night]

In fact, saddling college students with an educational mortgage is detrimental to the economy. It makes money for banks and schools. However, the financial burden keeps grads from buying homes, cars, and other products.

No, it doesn't. It only keeps those that were fool enough to put themselves under this burden from buying homes, cars, or other products.
Not all graduates are affected.

Communism doesn't work.