Saying the Supreme Court “misinterpreted the Constitution,” President Joe Biden said his administration will attempt to resurrect his student debt relief program using different legal authority after the high court blocked the effort from moving forward, Punchbowl News reports.
I'd like to see Biden point out which exact part of the Constitution the Supreme Court "misinterpreted".
lol no, The Higher education act gives Biden stronger legal footing than the Heroes Act. Let SCOTUS try again so Biden can EO all debt away w/zero means testing, something he should float if they want to play chicken.
DAMN!!!!!!!!!!! Because of Trump appointees , no student debt relief for Tony Stark. No wonder he hates Trump so much.
Aaaand here come the legal challenges to Biden's student loan forgiveness 2.0 Lawsuit filed to stop new student loan income-driven repayment plan https://thehill.com/homenews/educat...ew-student-loan-income-driven-repayment-plan/ The New Civil Liberties Alliance (NCLA) filed a lawsuit Friday against the Biden administration’s new student loan income-driven repayment (IDR) plan. The lawsuit comes after the Department of Education launched a beta website this week for the Saving on Valuable Education (SAVE) application, the new IDR plan the White House has dubbed the “most generous” for student borrowers. The NCLA, on behalf of the Cato Institute and the Mackinac Center for Public Policy, filed a suit in the U.S. District Court for the Eastern District of Michigan to stop the implementation of this plan. The NCLA is arguing that the new IDR plan violates the Constitution’s Appropriations Clause, which allows Congress to be in charge of what debt owed to the Treasury can be canceled. Under the SAVE plan, loan forgiveness would come quicker for many borrowers. For one, the plan allows borrower whose student loan has an original principal balance of $12,000 or less to get forgiveness after 10 years of payments. It also allows certain periods of deferment and forbearance to count toward the time needed to get full forgiveness on an individual’s loan. “In the Nebraska case, the Supreme Court struck down the Department of Education’s brazen attempt to pull a billion-dollar ‘elephant’ out of a statutory ‘mousehole.’ This time the Department’s loan-cancellation scheme does not even pretend to have a statutory ‘mousehole,'” said Sheng Li, Litigation Counsel for NCLA. “The [Public Service Loan Forgiveness] and IDR statutes require borrowers to make a certain number of monthly payments before earning forgiveness. By trying to count non-payments as payments, the strategy seems to be to cancel $39 billion faster than a court can review and stop this blatantly unlawful act,” Li continued. Along with the $39 billion the NCLA says the department could cancel almost immediately, it would allow debt to be canceled for 2.8 million more IDR borrowers in the future. “Instead of promulgating the plan through the required notice-and-comment and negotiated rulemaking process under the Administrative Procedure Act, the Department simply issued a press release that did not identify any laws to justify it,” the NCLA wrote. The challenge to the SAVE plan comes two months before student loan borrowers will be forced back into repayment after the three-year COVID-19 student loan pause. The Hill has reached out to the Department of Education for comment.
Are there people out there who have been paying off the original 12K balance after 10 years? What's the interest rate on those loans? With none, 100 bux per month would have done it. Were they paying 10 bux per month? Did those loans have minimum payment requirements that included the accrued interest?