I don’t think it will happen. Joe kept his promise but the house will kill it.

HA HA HA

A short reprieve …

“A federal appeals court has temporarily blocked the Biden administration's plan to forgive hundreds of billions of dollars of federal student loan debt.

Missouri federal court said they needed more time to rule on an emergency request by six Republican-led states to block the policy.

The Biden administration had previously said in court filings it could begin canceling student loans as early as this Sunday, but their plan was challenged by six states. …”

DailyMail article:
https://mol.im/a/11342543

I'm not a constitutional lawyer (just saying that is a joke) but I don't see how the president can do that either.... and I really don't think the banks would allow it... unless we the people are going to pay off the banks...and since a lot of student loans probably never get paid that would be a boom to the banks if we did.....

this whole student loan thing looks like the biggest ponzy scheme the banks ever came up with and over the years what it allowed was for colleges to raised the cost of tuition 10 fold over the last 30-40 years ..... back in 75 my college tuition for one semester was something like $1,250 and this included room and board. But this was at a military college where I was training to jump out of helicopters and eat dead burnt babies...

The loans had be be taken from the Fed. Bank loans not reimbursed.

From what I have heard this is not going to translate into Dem votes. Two of my sons, and many of their friends feel torn by this, they don't think it's right but, by their reconning, it will cost them 4200.00 each whether they take the money or not. That was the latest amount given for cost to every taxpayer. None of them plan on voting D because of this. My oldest son, on the other hand, worked his ass off getting his loans paid off ahead of time because he had a baby on the way and the payments could go to daycare.

And, as some others have said, I don't think this will get past the courts. I wonder if the Dems know this is true and want to use this as a reason to pack the courts?


Jim

quote:

Originally posted by Pal:
And, as some others have said, I don't think this will get past the courts. I wonder if the Dems know this is true and want to use this as a reason to pack the courts?


Jim

Yes, and also their extravagant spending and their unconstitutional E.O.s and gun control for starters.

In other words, they want to pack the Supreme Court so they can drive their Progressive agenda through.

So, best I can tell is that we are talking about the most recent announcement. I also recall that there already have been 4 or more of smaller increments now totaling over 22 billion. First was for the criminal enterprises which went belly up before graduating the students, but then other carve outs followed. What is or could happen to these??

this is one from american-rescue-plan-act
March 2021

I worked evenings and summers saving for college. Parents helped too but still needed loans to get through engineering and grad school. Worked and paid off my loans on time, in full.

Then, in turn I saved so my kids didn't have any loans when they graduated.

Thrift, and foresight. Apparently that makes people like me suckers in the eyes of the leftists.

I have no interest in seeing the "D"s try to go around the Constitution to buy votes with this nonsense. Good on the states for filing, thanks to the appeals court for putting the brakes on.

quote:

Article I

Section 9
No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law;

I remember a young woman who worked for me about 10 years ago. Married, one young child, employed husband, mortgage, and student loan debt. They refinanced their house (while rates were very favorable) to pay off the student loan. Excellent worker, by the way.

I wonder how she feels now, still paying on a 30-year mortgage but no student loan debt to be forgiven.

In modern America only the responsible working people are eligible for punishment.

Some of the lefty responses that made me laugh:

Reporter: "What would you say to those that repaid their loans?"
Lefty: "Just because you suffered doesn't mean I have to."

Reporter: "If Biden pays off your student loans, what will you do with the savings?"
Lefty: "Go to graduate school ."

Reporter: "Conservatives say the government shouldn't loan money for education, that banks should make those loans."
Lefty: "That's racist! Then nobody would be able to study what they want!"

Reporter: "What would you say is your largest obstacle to repaying your student loans?"
Lefty: "The government hasn't created enough high paying jobs in my field."
Reporter: "What field are you referring to?"
Lefty: "Gender studies."

It's insanity and pandering at it's finest. Why don't we just forgive all loans so that everyone starts fresh? -kidding. Some kids/young adults pick classes to just get a degree in something and a good portion will never find jobs in their chosen profession due to poor choices in their degree choice. Why do we have to pay for that? Then we have some idiots who want to make college free for everyone. This is how we arrive at "Idiocracy".

It's even shittier than they say!. I have about $5800 hundred left. But I've paid my loans all through the pandemic freeze. I can apply to get all of that money back up to the $10,000.

Nothing in this life is free. People living in the projects know that.

Hey!
If educating poor kids will get extra onions on our McRib sandwiches when we order them,
So be it.

Getting it right requires motivation. Colleges do not teach that.

Brick and mortar colleges will be a thing of the past in the next generation. Once the endowments start being depleted, it'll be over. I'm all for education for education's sake, but not at $80,000 a year for a liberal arts degree. I think education will be more and more geared to the STEM fields where you actually need the degree, and to the super elites with their gender studies degrees and philosophy degrees. There will always be people with that much money to burn anyway. The vast amount of people who are in the middle will have no degree or will do it online.

If that happens we will have even more socially challenged individuals with limited skills. STEM is overrated and will pass with time.
I want my physician to have knowledge about medicine from actually seeing patients and doing cadaver dissections. Instead of college football we can all enjoy watching STEM nerds play frisbee. Sounds exciting!