Supreme Court Upholds Temporary Pause on Biden’s Plan to Cancel Student Debt
This means Biden’s plan cannot happen as the case against him goes through the lower courts.
The Supreme Court refused to vacate an injunction placed on Joe Biden’s plan to cancel student loans as the case goes through lower courts.
SCOTUS did not give any reason or details.
BREAKING: The Supreme Court just ruled against Biden on his plan to unilaterally use tax dollars to cancel student loan debt
… Again pic.twitter.com/jzQsjzORZC
— Greg Price (@greg_price11) August 28, 2024
Republicans states sued the Biden administration over the plan.
The U.S. Court of Appeals for the Eighth Circuit, in St. Louis, placed a “broad hold” on the plan “as it considers the merits of the case.”
The Saving on a Valuable Education (SAVE) plan, introduced in August 2023, is the White House’s most recent attempt at debt forgiveness after the Court rejected a move to cancel over $400 billion in outstanding loans in June 2023.
Under the newer model, required payments would be reduced from 10 percent of a borrower’s discretionary income — redefined to mean income above 225 percent of the poverty line — to five percent. Those making less than 225 percent of the poverty line would not be required to pay anything, and outstanding loans totaling $12,000 or less would be forgiven after ten years provided the borrower completed any necessary payments.
While the Biden administration initially claimed the SAVE plan would cost $156 billion over the next decade, the eleven states challenging the program in court contended that the actual cost would be $475 billion over the same period of time. The Congressional Budget Office estimated a $276 billion price tag.
Of the approximately $1.6 trillion in student-loan debt at the outset of the Biden administration, the president and his team have used executive action to cancel about $144 billion to this point, a total comprising the debt of almost 4 million borrowers. $62.5 billion of the $144 billion total came from the Public Service Loan Forgiveness program, which eliminates student-loan debt for public-sector employees.
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A legal issue , not related to above
Yet
Wisconsin
Democrats argued that Wisconsin state law says once a candidate has filed for office, he must remain on the ballot unless they die [2]. What’s about “Sleepy Joe”?
[1]RFK-Jr.-2502869.pdf (administrativelawreport.com)
[2] https://docs.legis.wisconsin.gov/statutes/statutes/8/35
Biden never filed. Candidates don’t file until after they’re nominated, and Biden was never nominated.
As I read the law, not a lawyer, Milhouse is correct. Biden placed him name on the primary ballot to be the nominee for the party . He is not the official nominee of the Democratic Party until he formally accepts the nomination at the Democratic National Convention. This is why after he dropped out and installed Kamala they still had the dog and pony show of a convention for her to officially accept the nomination. It is unusual now but contested conventions are a thing where several people are on the ballot there and votes occur into the wee hours with much horse trading to get to the official nominee.
I am not at all sure that keeping RFK Jr. on the ballot helps Democrats. He has told Republicans in favor of him to vote for Trump. This gives traditional Democrats who can’t stand Harris or the leftists and won’t vote Republican a place to go.
The only real, valuable education for students would be to honor the contract they signed, and consider the ROI on the majors they select.
Just watch: they will be demanding that their mortgages and car loans (which are approaching the size of house mortgages) be canceled too.
Btw: is it mortgages or “mortgouges?” Just askin’….
That depends on the interest rate you’re paying. The one I have at about two and a half percent feels like it’s almost free.
Well, now that Biden has dropped out of the race, the necessity for him to cut student loans is no longer relevant.
He is still President.
What the courts should do is make it clear that any disbursements found to be improper will be recovered from Biden’s personal wealth.
what about allll those loans that have already been forgiven???
What about them? SCOTUS not lifting a stay has nothing to do with the merits of the case.
To forgive is to forget.
I would be in favor of student debt discharge / forgiveness if , and only if, the organizations and people that benefited from the student loans bared the cost of the forgiveness.
It was the universities, colleges, professors, administrators, etc that reaped the benefits of the student loans, not the students. As such if those who benefited from the student loans bared the cost, then I would be in favor of the forgiveness.
As Eisenhower stated _ The Educational industrial complex, The Government Industrial complex
thats just it
the left says america benefits from the welfare system
so we the taxpayers are the ones that,,,according to the left,,benefit
“slashes monthly payments”>>>>sounds like msm trickery
ALSO ,,LETS SEE POLITICALLY WHO THIS BENEFITS:
dems…stay angry at the trump who they were not going to vote for anyways
BUT WOULD IGNITE THE LAZY TO VOTE
pro americans……..still footing the bill for the bankruptcy that is upcoming
I think Moods/S&P will cut our credit worthiness soon as they can
its funny when they attack trumps pr american tax cuts of 2017
they of course never mention cutting spending
AND DO THEY EVEN ASK THE WH……THIS CAN ONLY HURT AMERICA BY ALLOWING PEOPLE TO NOT PAY THEIR BILLS
the game plan is to shakedown the private companies they contracted to service the debt ( you already see it happening) to pay hugeeeee fines
and of course be the scapegoats
fjb
More “Fun With Sam and Clarence.” Love it!
Theft.
Biden’s plan is theft, pure and simple.
How about we make pedo joe and his family reimburse the taxpayers for this illegal vote buying?
If the family has to do into total poverty, then so be it.
That would be nice but it’s not possible.
What I don’t understand here is this: Congress sets student loan interest rates. Why doesn’t Biden ask Congress to set the interest rates to 0% – just like they did during the pandemic? Students would still have to pay for their own education, which is more “fair” than what Biden is proposing.
Biden’s puppet masters cannot get the bills they want through Congress. That’s why they are trying to forgive the loans by executive edict,