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Biden's other constitutional crisis: Student
loans cancellation in limbo

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Posted By: Imright, 5/24/2023 9:05:03 AM

“President Biden’s student loan transfer scheme shifts hundreds of billions of dollars of payments from student loan borrowers onto the backs of Americans who did not agree to take out the loans," Rep. Bob Good (R-VA) told the Washington Examiner on Monday. "I am proud to lead the fight against President Biden’s reckless, unilateral, and unauthorized action that would unfairly penalize those who worked hard to pay off their loans or who never took them out in the first place."

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Reply 1 - Posted by: j9zig2009 5/24/2023 9:35:49 AM (No. 1476355)
He has to hold it off til 2024. Even if loan forgiveness ruled unconstitutional, he wins if there is a further delay. Imagine all of these people - who have not made payments in 3 YEARS - get a bill. Massive defaults will ensue. Bidinflation has made life unaffordable.
10 people like this.

Reply 2 - Posted by: Venturer 5/24/2023 9:59:59 AM (No. 1476377)
31 TRILLION dollars in the hole and we are still giving student loans and speaking of writing off repayment of those who already have them. Stop the student loans and watch tuitions in colleges go down.
16 people like this.

Reply 3 - Posted by: Nimby 5/24/2023 10:20:15 AM (No. 1476401)
Can this clown do anything worthwhile to the tax payers instead of appeasing idiots
11 people like this.

Reply 4 - Posted by: Right Time 5/24/2023 10:20:23 AM (No. 1476402)
We had a perfectly good and well functioning student loan system until Obama nationalized it and the government took it over. I knew in 2009 that this was the plan of Obama's Communist Party. This is vote buying plain and simple, and there is no authority that Biden can claim in the constitution for this gross abuse of power. Is there any doubt that Obama is the puppeteer?
13 people like this.

Reply 5 - Posted by: The Remnants 5/24/2023 10:39:26 AM (No. 1476417)
Finally, got my degree when I was 54 years old - combination of circumstances as they say - but i defaulted once because I could not pay - didn't know what default meant - interest went up, or the time to pay it off was extended - whatever - but I finally paid it off. Our country is losing its soul. Too many people in power do not believe in taking responsibility for their own actions and it is filtering down to the young and that is not good for them or for our country.
10 people like this.

Reply 6 - Posted by: DougTN 5/24/2023 10:50:59 AM (No. 1476435)
After 3 years of a blanket deferment and not paying a dime with or without the 10k cut nobody is going to be in the mood to start paying. Slow Joe will just extend the deferment. The smart debtors have been paying a along interest free. Imagine paying the same monthly payment since the beginning would have saved a ton of money for interest.
5 people like this.

Reply 7 - Posted by: Mcscow sailor 5/24/2023 10:53:59 AM (No. 1476437)
When it absolutely, positively has to be destroyed overnight. BidEn.
8 people like this.

Reply 8 - Posted by: jalo1951 5/24/2023 11:00:45 AM (No. 1476451)
Watch out FJB. Progressive children are going to get their Target tuckable panties all in a twist when they have to pay their own expenses.
8 people like this.

Reply 9 - Posted by: Quigley 5/24/2023 11:05:10 AM (No. 1476456)
I wonder if the big winners are the lenders who get paid in full plus default interest and penalties and their balance sheets cleaned up. Big Bidet has always been in Big Finance’s hip pocket.
4 people like this.

Reply 10 - Posted by: Rubinski 5/24/2023 11:22:46 AM (No. 1476475)
Student loans are nondischargeable barring narrow circumstances, which means that borrowers are obligated to repay educational debt even after declaring bankruptcy.
5 people like this.

Reply 11 - Posted by: hisself 5/24/2023 11:23:59 AM (No. 1476480)
FTA: "Nearly 90 percent of the relief provided by the Department of Education would go to Americans earning less than $75,000 per year" Get rid of the DOE, reduce our taxes, and 100% will go to all of us! While you are at it, get rid of the FBI, ATF, EPA, and DOI also! Give us back our country!
6 people like this.

Reply 12 - Posted by: Jesuslover54 5/24/2023 11:32:51 AM (No. 1476493)
Calculated to be a big feature right before next election. I spend a lot of time trying to figure out were to move in December 2024. Spain? Portugal? Ecuador?
4 people like this.

Reply 13 - Posted by: zephyrgirl 5/24/2023 11:33:59 AM (No. 1476495)
A lot of this debt was piled up by people getting multiple degrees that end in "studies," degrees that mostly qualifies the holder to be a barista at Starbucks or sell fries at a McDonald's or Wendy's counter. A lucky few get on the higher education gravy train as part of the DEI staff at universities, but the rest are SOL. Student loans should consider the likely return from the degree being earned. Finally, be an adult, borrow money, pay it back.
8 people like this.

Reply 14 - Posted by: Luandir 5/24/2023 12:11:18 PM (No. 1476536)
"Forgiveness" has already served its primary purpose of boosting Dim turnout last November. It makes little difference what happens now.
4 people like this.

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