Posted on 07/14/2023 11:05:47 AM PDT by Red Badger
The Biden Education Department announced it would “automatically forgive” student loans to hundreds of thousands of followers despite a Supreme Court ruling striking down another student loan scheme just two weeks ago.
As reported by ABC News, Education Department officials announced Friday that are forgiving the debts of 804,000 borrowers to supposedly fix what they called “administration failures.”
These borrowers are individuals who have been paying their loans back through income-driven repayment plans. This allows debts to be forgiven once they’ve been paid for 20 or 25 years.
Education Secretary Miguel Cardona said in a statement these borrowers would be getting the forgiveness they deserve.
For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness.
By fixing past administrative failures, we are ensuring everyone gets the forgiveness they deserve, just as we have done for public servants, students who were cheated by their colleges, and borrowers with permanent disabilities, including veterans.
Fixing these past mistakes will come at a cost to taxpayers. The DOE notes these fixes these past “administration failures” will total $39 billion.
These 804,000 borrowers will be notified on Friday by the Department of Education and relief will begin 30 days later. Individuals who do not want debts discharged are encouraged contact their loan service providers.
This new plan is part of previous “fixes” to other programs the Regime believes were failing borrowers. ABC News notes that this includes $45 billion to people enrolled in Public Service Loan Forgiveness who weren’t getting the debt relief and $22 billion to borrowers who were defrauded by for-profit colleges.
The move by the Education Department is quite audacious considering the Supreme Court struck down Joe Biden’s lawless program to cancel debt relief back in June.
As Gateway Pundit readers know, this program would have cancelled $10,000 worth of loans for most student borrowers and $20,000 for Pell Grant recipients.
There is no word yet on whether Biden’s newest student loan debt relief scheme will be challenged in the court system.
This would be taxable as the debt relief is like income. Although the tax bill might not arrive until the next Republican administration.
Try telling that to the bidenites.
tentacles into a foundation
Book deals, foundations, and non-profits .... the ultimate in money laundering. La Cosa Nostra, the Cartels, and every other criminal organization could learn a lot and from the folks that write books that no one buys but are paid incredibly hefty advances and the folks that run non-profits, etc.
Not if you vote Democratic, you get a free pass on the taxes.
Maybe they will.
Buying more votes with ott tax money
He belongs in prison
Note the wording. Not 'progress towards repayment', which is the usual method, but 'progress towards forgiveness'.
Also, 'progress' and 'forgiveness' have a religious connotation. Progress towards God and forgiveness of sins. Here, the federal government will 'forgive your sins'. Perhaps that is reading too much into what the POTATUS said but the words he is told to say are generally carefully crafted by his handlers.
They are afraid of nothing now. They will do and say whatever they like because from now on they have nothing to fear at the ballot box.
The only thing that surprises me is that people are now shocked by Democrats' behavior.
Absolutely. I was very slow to recognize the money-laundering aspect of the “book deals” until just a few years ago.
While a lower court may issue a stay on this EO, the Supremes are on vacay until October. A lot can happen by then.
I saw a good idea above: take the money out of the undisbursed funds that would go to the IRS.
It seems the House doesn’t control a damn thing anymore, and after the Bruen decision,it also appears that ruling from the Supreme Court is more of a suggestion, than an actual ruling.
And report the amount of the debt forgiveness as taxable income in their tax return filings.
I think that the Supreme Court and the Congress will soon tell it to the bidenites!!!!
I would have thought a bunch of snowflakes who took out loans they should have never gotten to obtain a degree in 'female studies' or 'race relations' and then feel as if they shouldn't pay back the loan would be the Democrat's base.
Every employer should be asking every applicant if they tried to or did have any Student Loans forgiven, then when they say YES, Show them the door. Starbucks is Hiring
As Andrew Jackson said after losing a case in the Supreme Court, “John Marshall has made his decision now let him enforce it.”
Or as I think, Joseph Stalin said when the Vatican said he could not do something: “How many divisions does the Vatican have?”
The Biden Administration knows there is no penalty for them to defy the Supreme Court. Who is going to stop him? John Roberts?
Why is anyone shocked by this? They basically announced they’d do an end run around the Court the very day the decision came down.
**Crickets** from GOP, Inc.
I wish people would stop calling the regime the “Biden” regime, since Mr. Biden has little or nothing to do with it.
Anyway - the regime, or the resistance, or the revolution (whichever you prefer) regards the USSC as illegitimate and will soon pose the question “How many divisions does Roberts command?” - and the problem is that turning Biden into a punching bag accomplishes nothing - because he’s not in charge.
“They are afraid of nothing now”
The American people are so apathetic. They don’t seem to care about much of anything. I tried talking to people today about the border crisis / invasion. All I get is a glazed look.
What’s for lunch?
They can get away with just about anything now.
Until the Republicans wake up and start using the same tactics, we’re all screwed. Unconstitutional? Who cares! The Constitution is no longer valid. The left has brought us to this point.
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