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.
Doesn’t the House control the money?
Identified potential Democrat voters, did they? /shiny side out
Soft Money and all that.
He isn’t the f-ing king!
If those deadbeats accept that loan dischargement, they should lose welfare, section 8, medicaid and any other handout.
WHERE IS CONGRESS ON THIS???????
And turnabout is fair play - the next Republican president needs to understand that LAWS DON’T MATTER AND HE NEEDS TO TAKE CARE OF HIS PEOPLE NEXT.
So what happens in any given case if the government completely defies SCOTUS? Who enforces? Penalties?
Paid for 20-25 years? That limits the pool somewhat. Those who stopped paying don’t qualify.
I assume the amount forgiven is treated as income for tax purposes?
“ For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness.”
I read the article, but must have missed the part about “progress towards loan forgiveness”. Wouldn’t that be when the loan was paid off? I don’t recall getting any early forgiveness for making regular payments on my house or car notes. Neither do I recall way back in the day being offered a break on student loans for making timely payments.
And court action to stop will be coming in 3, 2, 1...
So in this case, Joe Biden has the power. Who's going to stop him?
Andrew Jackson (D-TN) shipped out native Americans to Oklahoma even though the Supreme Court said they could stay where they were.
Immediately cut the same amount of money he ‘forgave’ from the FBI budget.
Not if you vote Democratic, you get a free pass on the taxes.
Defy the Supreme Court? Don’t look to McCarthy and company to step up with impeachment. They can’t be bothered.
A very large segment of the non performing student loans are outright fraud either by students using the money for non educational expenses with no intention of ever paying back, money to fraudulent or on paper shell company only “schools” or to non existent phantom students created by political insiders to steal the money.
Then the government owes me some money!!!
The bidenites cannot defy the Supreme Court or the Constitution!!!!
I believe their plan is to get the money into the hands of the voters they want to buy, then, recouping the money after the fact will be impossible.
Much the same way with Obamacare, while the challenges were going on, they spent huge money hiring people, opening facilities, buying desks, computers, supplies, etc.
They have found that if they can generate something, no matter how unconstitutional or lawless, that if it can get its tentacles into a foundation, it can’t be untangled.
And they know they won’t be called out on it.
King Biden spake, and said, “Is not this great Babylon, that I have built for the house of the kingdom by the might of My power, and for the honour of My majesty?”
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