Senate Passes Measure That Kills Biden’s $400 Billion Student Loan Forgiveness Plan
Biden will likely veto the resolution but who knows what will happen to it in the hands of SCOTUS.
The Senate passed a Congressional Review Act (CRA) measure overturning Biden’s $400 billion student loan forgiveness plan.
Biden will likely veto the measure.
A CRA only needs 50 votes to avoid a filibuster. It is also a “resolution approved by the House and Senate was written under the Congressional Review Act, which lets Congress reject an executive branch policy as long as both the House and Senate pass a resolution disapproving of that policy.”
Biden’s plan would have given “40 million borrowers up to $20,000 in loan forgiveness.”
Democrat Sens. Joe Manchin (WV) and Jon Tester (MT) and Independent Krysten Sinema (AZ) voted with the Republicans.
Thank you, Sen. John Thune (R-SD):
“It’s something of a slap in the face to Americans who chose more affordable college options or worked their way through school to avoid taking on student loans, or whose parents scrimped and saved to put them through college,” Sen. John Thune, R-S.D., said on the Senate floor before the vote about Biden’s plan.
“It’s deeply unfair to ask the many Americans who worked hard to pay off their loans or who never pursued college in the first place to take on the burden of student debt for individuals who took out loans for college or graduate school and agreed to pay them back,” he said.
I chose Oklahoma State University over Michigan and OU because my parents lived in Stillwater. I could live at home without taking out loans and leave school without debt. OSU is also affordable (no out-of-state tuition!).
Sen. Patty Murray (D-WA) whined that people “find themselves unfairly bogged down with massive debt so often through no fault of their own.”
Lady, they took out the loans. They did do it to themselves. While most don’t get the luxury of living at home while at school, you can still choose an affordable in-state school.
Doubtful that Congress would be able to overturn Biden’s veto. But the program could end in the hands of SCOTUS.
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Comments
How did the Dem-controlled Senate allow this to go to a vote unless they plan on campaigning on the issue: Republicans want to take away the free goodies we want to give you! Vote for Santa Claus!
Vote for Santa Claus!
Wait until the 13 trillion dollar reparations bill comes up for a vote.
It will slide through on greased rails.
The churchless reverends will send little love notes to congressmen with a “reminder” of what can happen when cutting off the ever-increasing flow of demands to the exalted minority takes place.
As it is, I suspect summer both this year and next, will prove… interesting.
Preserve it as a campaign issue is spot on. It’s not going to slip quietly int the forgettery.
If what is occurring in New York City Public Housing, where close to 50 percent of the tenants refuse to pay their rent, I do not think many of these loans will be paid back. And what will the government do? Nothing, just like in New York
https://cbcny.org/research/uncertain-future-urgent-priority
They have their ways… if you expect an income tax refund at the end of the year, it quietly disappears against your debt.
Speaking from experience, it does happen.
They take out massive loans, major in “Grievance Studies”, then can’t find a “woke” enough no-show job, so they want us to pay back the loans. Fuggedaboudit.
Massive loans for a useless degree all the while spring break on a Mexican Beach and summers traveling Europe or unpaid internships to expand themselves.
2 people who want their student loans to be paid off by us downvoted you.
A good start to mitigate 1% progress through shared responsibility. Next, the trillion dollar deficits in Medicare, Medicaid, and Obamacares forcing progressive prices: unaffordable and unavailable, sustained through single/central/monopolistic authority.
Huh? A bill is required so the doddering, pandering old retard CAN’T give away billions in free shit?
Funny that, I thought the House of Reps controlled the purse.
Yeah, but they don’t control the anti-purse.
They already authorized the Executive to issue massive quantities of student loans.
Now the executive wants to say “forget about paying us back.”
There’s nothing the House can do to control money that doesn’t flow through them.
Uh, they can. All they have to do is cut funding going forward. Too bad about what happens to the new students, but until they get vetted, no loans. Now Biden has to explain that to the new students. They’re voters, but alienating them will net more positive votes from people who don’t want to be giving money to them.
Not sure how widely known the following is:
In contrast to how Ms. Chastain handled her university education, as described in the article above …
Representative A. O. C. grew up in idyllic well-to-do upper Westchester, NY. After high school she could have commuted to Westchester Community College for two years, and then transfer to SUNY-Albany, or Binghamton. Total cost approx $30,000.
If she had worked as a bartender or waitress over the summers she could have graduated debt-free, or close to it.
Instead she chose to take out loans in excess of $150,000 , which she is still apparently repaying, in order to attend Boston University.
Where she “learned” (pause for audience laughter) economics.
And she is ignorant as heck. Boston college should be ashamed that they graduated such a dummy when it comes to economics.
Biden created the student loan crisis and ran on the promise that he would solve it. Just another reason he’s a hopeless fraud.
In fact, Obama created the current student loan crisis. Prior to the ACA (Obamacare) legislation passed in 2010, the old Guaranteed Student Loan program worked reasonably well. Banks wrote the loans and the federal gov’t guaranteed them, as well as paying interest while students were in college.
Today’s loan program has the Dept of Education writing the loans, not banks. This ACA program was supposed to make money for the gov’t, in order to subsidize the cost of providing health insurance. And look at how poorly the current student loan program has performed.
Maybe that’s why Joe fell on the floor at the AF ceremony.
Being more analytical:
People borrow to go to school.
Politicians want their votes.
Students lollygag on paying them back.
Politicians keep creating pathways to lollygag, so students won’t vote against them.
Rinse and repeat.
You shouldn’t loan $$ to people, who have something you want. Grandchildren is another example.
I’m baffled by this whining by people about the massive debt they racked up “through no fault of their own”. I went in the military, got the College Fund then a State School for 2 years doing cement work during the summer then transferred to a University working during the school year and summers. Had less than $10k in loans which I paid right off. If you can’t figure out how owing someone $150k and more right out of college might be a bad thing when your major has no career path to get you out of poverty then you don’t belong in college.
I went to a community college for a year and was as bored there as I was in high school. Enlisted in USAF, learned things that enabled me to get a well paying technical job with a well known large company after discharge, went into the AirNG more than long enough to qualify as retired E-6, saved as much as possible. If I can, anybody can.
If they want to, that is.
.
No, they don’t want to. Work, that is.
“Lady, they took out the loans. They did do it to themselves”
Government, you made the loans, you did this to yourself. Now you get to do like every other foolish lender and get a haircut.