...for those alleging colleges misled them. "At issue is a rule broadening existing policy ending the debt of students who borrowed money to attend colleges and universities that are determined to have misled them on matters such as whether their courses would actually prepare them for employment in their field or the likely salary they would earn upon obtaining a degree..." So basically the kids want a refund of their tuition because they thought they'd get $100k+ right out of the gate with no work experience. Sure. As your president I'd allow the refund, so long as their degree is taken away from them, their academic record is scrubbed clean, and a bankruptcy charge is filed on their credit reports. They truly are the entitlement generation.
Many jobs in America offer student loan debt forgiveness. Simply, if someone wants to work and they choose any of the many jobs that offer student loan forgiveness, or reimbursement of student loans...it's easily done for those that want to work. https://www.nerdwallet.com/article/loans/student-loans/student-loan-forgiveness https://www.cnbc.com/2023/07/27/3-w...forgiveness-despite-supreme-court-ruling.html You're lucky and the University you attended is now permanently closed or filed for bankruptcy (e.g. Trump University)...the government will erase those loans for you and then charge it to the consumer loan debt. Another benefit, those types of jobs will most likely qualify them for more personal consumer loans...helping to increase the skyrocketing consumer debt in America. wrbtrader
In many first world countries college is free.So is health care.Only in The US is someone called entitled for wanting to be educated or have healthcare without mountains if debt
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More correctly their parents and industry who will be using the qualified labour pay for it in taxes. This is hit and miss, for example speculative property investment can be seen as the older generation robbing the young even in European nations but the USA has entirely too little intergenerational solidarity and corporate welfare, not child.
More info... BTW filing this suit with the conservative 5th Circuit court is a classic example of venue shopping. At minimum any ruling from circuit appeal courts should only apply to regions within their jurisdiction rather than nationwide. Biden's student debt forgiveness for defrauded borrowers blocked by conservative court https://www.yahoo.com/news/bidens-student-debt-forgiveness-defrauded-190639819.html A federal court on Monday blocked new Biden administration rules aimed at forgiving the debt of student borrowers who attended colleges that misled them or closed suddenly. The move by the U.S. Court of Appeals for the 5th Circuit, by a panel comprised of Republican presidential appointees, was in response to a request from Career Colleges and Schools of Texas for a nationwide injunction on the new version of so-called borrower defense rules. The Biden administration's version of the rules eases and clarifies the process for securing that relief, including by allowing borrowers to submit claims if they believe they were misled by their institution. CCST represents private career-oriented or trade schools in the Lone Star state, many of them for-profit colleges. Individuals who attend for-profit schools are disproportionately likely to take and default on student loan debt, in large part because they promise lucrative outcomes but have a track record of seldom producing those results. Federal policies have been developed over the years in an effort to relieve such borrowers of that debt. The U.S. Education Department under President Joe Biden has worked to add to that pile of policies, including its own borrower defense to repayment rule. Through borrower defense to repayment – or borrower defense for short – students who have been defrauded by their schools have their loans discharged. When CCST filed its lawsuit earlier this year on behalf of more than 70 Texas institutions, it said the Education Department's rule was created "with a thumb on the scale to maximize the number of approved claims and, ultimately, further the administration’s loan forgiveness agenda." Loan forgiveness for defrauded borrowers has been hard to come by Federal law has long allowed the discharge of loans for borrowers who have been misled or defrauded by their colleges. But getting loans canceled has been arduous and in many cases involved lawsuits against the federal government. Biden has been applying this authority incrementally. In a settlement for a case that traces back to the Trump presidency known as Sweet v. Cardona, Biden agreed to forgive $6 billion in debt relief for nearly 300,000 borrowers, for example. That relief isn't affected by Monday's injunction. Still, the group behind that push for relief was frustrated by the block of Biden-era rules."It is necessary to protect students from being scammed and it ensures that predatory actions come to light and are stopped before they go on to harm even more students," said Eileen Connor, president and director of the Project on Predatory Student Lending, in a statement. "These organized, well-funded political attempts to weaponize the court system against the legal rights of borrowers underscore how stacked the system is against our clients.Also last month, the administration announced forgiveness for another 7,400 defrauded student borrowers in Colorado. All in all, the administration has forgiven roughly $14.7 billion in loans for defrauded student borrowers. Nearly half a million borrowers had submitted borrower defense claims and had pending applications as of January 2023. The ruling Monday delays the start of Biden's regulations, which also include automatic relief for borrowers whose institutions were closed. Advocates in favor of debt relief lamented the decision and stressed the importance of strong borrower defense policies. "We cannot afford a green light for dishonest schools to continue harming students," said Aaron Ament, president of Student Defense, in a statement. "Defrauded borrowers are legally entitled to relief and their institutions should be held accountable. Until these protections are restored, countless students are at risk of being taken advantage of by higher ed profiteers who are exploiting students with little accountability.” For-profit and career college advocates lauded the move, however. "Imposing these ... provisions would have been detrimental to career schools in Texas and across the country," said Jason Altmire, the president and CEO of Career Education Colleges and Universities, in a statement. "We are confident that when the case is brought forward the facts will show the new rule to be an agency overreach." In a statement late Monday, the Education Department said it was reviewing the court's order and remained committed to helping defrauded student borrowers. "The Department issued a set of new and stronger regulations to ensure that borrowers have a path to relief when their colleges take advantage of them or leave them stranded by closures," the Education Department told USA TODAY. "The Department won’t back down in our efforts to take on predatory colleges, provide relief to borrowers who have been cheated or had their school close, and hold institutions accountable for deceptive schemes." The Justice Department and CCST declined to comment on the development.
Federal student loan borrowers can now apply for the SAVE repayment plan—see if you qualify for $0 monthly payments https://www.cnbc.com/2023/08/01/fed...epayment-plan.html?__source=newsletter|makeit
"...And even if you have a $0 monthly payment, you will still be making progress on your loans because those $0 “payments” count toward the number of payments necessary to be eligible for loan forgiveness through both IDR and Public Service Loan Forgiveness..." Good grief.