InfiniteISO Loc: The Carolinas, USA

No recent case has been more clear cut. Trying to wave a magic wand and erase debt is not a function of the executive branch and this should have been 9-0.

Elena Kagan is a smart woman. Her attempting to pen a logical dissent proves she's a political hack.

https://thehill.com/regulation/court-battles/4075758-read-kagan-dissent-biden-nebraska-student-loan-case/

SteveR Loc: Michigan

You know, her response would have been a great one against the court approving a******n in the first place in Roe v. Wade!! As we know, however, SCOTUS is an arbiter of law and the Constitution, and determines when one of the other branches has overstepped its bounds, as Biden did in this case.

DennyT Loc: Central Missouri woods

This approach was knocked down. The court punted back to congress . I suspect dems will learn from this and try a new approach.

SteveR Loc: Michigan

Like getting a majority of the House to approve it?

anotherview Loc: California

Despite the Supreme Court ruling against President Biden on relief of student loan debt, he has already devised a workaround. See here:

FACT SHEET: President Biden Announces New Actions to Provide Debt Relief and Support for Student Loan Borrowers

(https://www.whitehouse.gov/briefing-room/statements-releases/2023/06/30/fact-sheet-president-biden-announces-new-actions-to-provide-debt-relief-and-support-for-student-loan-borrowers/)

A true President would do all necessary in the national interest to collect the student loan debt, now $1.7 trillion and growing.

What does it say about Biden that he sides with deadbeats?

Besides, this huge sum of money could go toward paying down the national debt or toward another worthy recipient.

Instead, Biden tries to buy v**es by k*****g student loan debt.

anotherview Loc: California

Yep.

thom w Loc: San Jose, CA

What other debt cannot be erased through bankruptcy? Why should school loans be different?

pendennis

Just a guess, but since the U.S. government is the guarantor of the loans, wouldn't the government be in a "no-win" position? The government is not a private equity organization, therefore would have trouble proving damages to them?

Congress needs to act post haste. Put the student debt on the universities. Let them collect it. As it stands, universities have huge endowments (Harvard alone $52 billion+). Maybe then they would stop some of this useless degree strategy for undergrads.

DennyT Loc: Central Missouri woods

It is my understanding that the Biden Loan forgiveness program only affect direct federal loans and grants. And DID NOT apply to private loans guarenteed by feds.
You better check instead of if guessing

But I do agree that the schools are taking advantage and facing no consequences for their greed

mwalsh Loc: Houston

At a rally, yesterday I think, Trump made another outrageous claim. He praised SCOTUS for stopping Biden's loan forgiveness program (not the outrageous part.) He then went on to claim this was going to save the taxpayers from spending "hundreds of billions of dollars, maybe trillions."

The program would have forgiven four hundred thirty million dollars in debt. The amount is easy to accurately compute. This is how Trump slips his lies into speeches and the MAGAs believe most anything he claims.

A Fox news journalist then validated the lie by claiming the taxpayers will not have to pay back hundreds of billions of dollars on the loans.

This involved two specious claims of facts that are not true. The claims of the grossly exaggerated amount will spread.

And the taxpayers will not have to repay the loans in question. We already paid for them when the loans were funded. The government writes off the loans which has the impact of the loss of cash inflows from the future payments on the loans to the tune of four hundred thirty million.

Four hundred dollars is a consequential amount, especially with our rising national debt. But, it is less consequential than the hundreds of billions, maybe trillions as Trump claimed.

I was never a supporter of the loan program. When I borrowed monies in the past (student loans long since paid off, car loans, mortgage, et) I expected and was expected to pay the loans back in full. Student loans are no different. Nobody forced the students to take out these loans...they made a choice.

DennyT Loc: Central Missouri woods

And that “ inflow “ of money is not this year . Rather it is so spread over the life if the loan which could be as much as 10 years and in some cases 20 years.

SteveR Loc: Michigan

Walsh, you're mistaken in thinking that Biden's loan program was only for 430 million. It was for probably 430 billion. See the attached from Wharton.

https://budgetmodel.wharton.upenn.edu/issues/2022/8/26/biden-student-loan-forgiveness

mwalsh Loc: Houston

I guess I missed a decimal...my bad.

Still a far cry from trillions as Trump claimed and,

nobody is going to have repay the loans.

thom w Loc: San Jose, CA

Writing off a loan that was never going to be paid costs nothing. Every other debt that I know of can be mitigated by bankruptcy. Why are student loans be different?

Truth Seeker Loc: High Mountains of the Western US