How many times did every single article on the objections quote Larry Tribe saying “they don’t have standing so this will go through.” I don’t feel like looking it up, but I would bet its over 20 times that single quote was used (they didn’t ask him for every individual article, they just reused the same quote).
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I do seem some logic behind that claim. Smaller balances are less likely to indicate a degree, and more likely to indicate a drop-out (for whatever reason). So those people who were barely making ends meet before school, are still working the same jobs leaving them barely able to make ends meet now - plus there’s now the loan payment. Plus, it’s much easier to adjust lifestyles to having more disposable income (like, when your loan payments are paused), than it is to adjust to having less. So such people are going to struggle with this “new” old debt payment returning.
But your first point kind sweeps that all away, with income based repayment.
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Ok, I will definitely go with this because it makes sense. But if that were the people that the admin really wanted to help, they would have limited the forgiveness to people with a balance and no degree and are over the age of ~26.
There’s actually a decent chance that if the executive action were that limited, the right would have come to the conclusion that it would look worse for them to try and stop the forgiveness than the benefit they would get out of stopping it. So it would have just gone through. By not limiting the forgiveness and essentially giving it to very well off adults approaching middle age, the right doesn’t look racist or anti-working class when the try to stop it. The left just looks like they were buying off white millenials and gen-z for this most recent election.
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The stink of the health insurance exchange website is still strong. They should not be tooting their horn about a simple form submission site they’ve had months to create. Maybe someone should ask how that site was funded…
The Washington Post reported on Monday that due to the implementation of relief being delayed, officials are considering extending the student-loan payment pause past its December 31 expiration date.
Yup, there it is.
The payment pause should be blocked as well, since it’s clearly being used to get around the order disallowing the forgiveness handout.
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Back when I was floating balance transfer debt a couple decades ago, I remember telling someone the point wasn’t the earning free interest (which was nice with 4-5% bank rates). The home run scenario was that, just maybe, you would never have to pay it back. and for a good chunk of the debt, that turned out to be possible. I had no idea then when I was doing BTs regularly to keep it going that something would present itself, over a decade later, but like the lottery, “you can’t win if you don’t play”.
Today’s student loan debt is a similar parlay - clearly worth taking and not paying just in case. Of course in my case they changed their terms afterwards, while here the terms are being rewritten every election voting drive.
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it worked!
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Biden to ask supreme court to lift injunction
From politico
The Biden administration will ask the Supreme Court to revive its student debt relief program as it fights to reverse lower court rulings that have upended its plans to forgive up to $20,000 of debt for tens of millions of Americans.
The Justice Department said in a court filing on Thursday that it planned to ask the Supreme Court to reverse an injunction issued earlier this week by the 8th Circuit Court of Appeals that prohibits the administration from carrying out student debt relief.
Separately, the Justice Department is asking the 5th Circuit Court of Appeals to put on hold a decision by a district court judge in Texas to strike down the debt relief program as illegal. The DOJ asked for a ruling from that appeals court by Dec. 1 “to allow the government to seek relief from the Supreme Court” if needed.
The various emergency requests by the Biden administration tee up what could be the most consequential Supreme Court showdown yet over President Joe Biden’s debt relief policy in the coming weeks.
See you in (Supreme) Court!
I really think Judge Judy should reach out and try to recruit the case for her “court”. The appearance fee could actually fund some loan forgiveness. It’d be the highest rated syndicated program in history.
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Having been thwarted by the courts, Biden now instructs the DOJ to take a borrower-attested hardship claim as grounds for not fighting the discharge of their loans in bankruptcy. In short, just go bankrupt and you can wipe out the debt.
Pro-discharge lawyers take
Student loans are treated differently in bankruptcy proceedings than other forms of consumer debt. In bankruptcy legislation, Congress “attempted to balance the goal of providing debtors in dire financial straits with a ‘fresh start’ against the countervailing goals ‘of preventing abuse of the student loan program,’” according to the Congressional Research Service. Creditors—in the case of federal student loans, the Education Department—have the opportunity to contest claims in court, making it time-consuming, expensive and intimidating for borrowers to even attempt the legal maneuver.
So yeah, under Biden they won’t do that.
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I wonder if it’s possible to do a BK/ admin costs analysis for those who couldn’t pay anyways if this targeted BHF plan fails.
Remember Charlie Brown keeps doing it though… so if you’re GOP you want this one time and get it over with. 2022 had a massive uptick in young Dems
Is this the start of a subtle pivot? The timing of these “approvals” sure seems to be intentional to pin the blame on the Supreme Court for them not getting their loan discharges. Is this the consolation prize - turning sixteen million student loan borrowers into advocates for packing the Court?
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yep. The 16 million Dem drone army will rise!
This email provides you with an update on the one-time Student Loan Debt Relief plan that President Biden and I announced on August 24th.
We reviewed your application and determined that you are eligible for loan relief under the Plan. We have sent this approval on to your loan servicer. You do not need to take any further action.
Unfortunately, a number of lawsuits have been filed challenging the program, which have blocked our ability to discharge your debt at present. We believe strongly that the lawsuits are meritless, and the Department of Justice has appealed on our behalf. Your application is complete and approved, and we will discharge your approved debt if and when we prevail in court. We will update you when there are new developments.
The Biden-Harris Administration is committed to helping borrowers as they recover from the pandemic.
Education is a great equalizer, and we will never stop fighting for you!
In Service,
Miguel A. Cardona
U.S. Secretary of Education
That’s a pretty f’d up email to send to people that aren’t “super-online” and familiar with what has been going on with this issue.
Also, the line about “helping borrowers as they recover from the pandemic” is quite short sighted as well. The predicate that this forgiveness rests on is that there is an ONGOING emergency. The HEROS act doesn’t authorize the secretary of education to forgive loans as part of the RECOVERY from an emergency. They’re just digging a bigger and bigger hole for anyone arguing the constitutionality of this program in court.
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key part is the servicers already have been notified “if and when” Didn’t get one for my wife yet, but her PSLF application is in regardless…
Apparently if you didn’t give them your email, this is what they are sending to borrowers via snail mail.
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lots of kids that grew up with this show opening their email today:
Yes, I just made all these. I didn’t copy anyone, but I’m sure plenty of other people already thought of them before me since they are just rehashes of other classic memes. But I made them myself because it’s easier than going out and looking for them.
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Yeah I often forget where I saw something. Found this one again that I’d meant to post with the others,
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