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Elizabeth Warren Wants to Start Erasing Student Debt on Her First Day in the White House ( By Executive Order)
Rolling Stone ^ | 1-14-2020 | Andy Kroll

Posted on 01/14/2020 9:36:55 AM PST by tcrlaf

Sen. Elizabeth Warren (D-Mass.) has already pledged that, if elected president, she would erase student-loan debt for the vast majority of the 45 million borrowers in America. On Tuesday, she went one step further, saying she would use executive authority to begin wiping out student debt on the first day of a Warren presidency.

She appears to be the first 2020 presidential candidate to have a day-one plan to use presidential executive authority on student-debt relief. In all, borrowers currently hold more than $1.5 trillion in student-loan debt in this country, a slow-motion crisis that economists say dampens home purchases, starting new businesses, saving for retirement, and even getting married.

Warren’s new plan says the Department of Education has the authority to “modify, compromise, waive, or release” student loans under the nation’s flagship law for colleges and universities, the Higher Education Act. This authority, Warren’s plan says, “provides a safety valve for federal student loan programs, letting the Department of Education use its discretion to wipe away loans even when they do not meet the eligibility criteria for more specific cancellation programs.”

(Excerpt) Read more at rollingstone.com ...


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: desperation; freecollege; iowa; warren
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To: tcrlaf

1. She doesn’t have the power.

2. It would be a “taking,” and a massive violation of the Fifth Amendment.


41 posted on 01/14/2020 10:23:09 AM PST by kaehurowing
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To: tcrlaf

Will this be before or after she terminates single family home construction?


42 posted on 01/14/2020 10:25:20 AM PST by Captain7seas (UN EXIT!)
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To: tcrlaf

I have a mortgage with a couple of years on it. Can Liz wave her wand my way?


43 posted on 01/14/2020 10:43:24 AM PST by Vermont Lt
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To: tcrlaf

Okay, you chumps: I know the other socialists (including me) have all offered taxpayer cash in various forms to buy your votes, but I’m upping the ante by increasing your bottom line by up to $50,000 on my very first day in office! And from there, there is no end of free goodies (if you vote for me).


44 posted on 01/14/2020 10:44:18 AM PST by SharpRightTurn (Chuck Schumer--giving pond scum everywhere a bad name.)
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To: caww

Oh, no. The universities have gotten paid. Years ago. That’s where the loan money went. What will kill the colleges is demographics—in 5 years the college aged population attending college will drop like a rock.

Look at all the new buildings on campuses. Someone has to pay for those.


45 posted on 01/14/2020 10:45:38 AM PST by Vermont Lt
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To: tcrlaf

And going forward, who will take out a student “loan?” I suppose all loans will be converted to grants, unlimited in amount. Congress will just authorize an unlimited borrowing line. Is that the plan? Let’s just abolish money and make everything free.


46 posted on 01/14/2020 10:54:15 AM PST by sphinx
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To: Little Ray

The gates have been breeched.


47 posted on 01/14/2020 11:01:11 AM PST by laplata (The Left/Progressives have diseased minds.)
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To: tcrlaf

She has no desire to cancel student debt, but buying votes, now that has traction.


48 posted on 01/14/2020 11:13:51 AM PST by American in Israel (A wise man's heart directs him to the right, but the foolish mans heart directs him toward the left.)
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To: tcrlaf

What office could she be talking about? Is she doing “let’s pretend.”


49 posted on 01/14/2020 11:15:16 AM PST by KC Burke (If all the world is a stage, I would like to request my lighting be adjusted.)
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To: tcrlaf
I am such a sucker for paying off my loans years ago

As am I. But I have resigned my self to the fact that it is going to happen. Once Generation Text comprises 50.001% of the voting pool they WILL vote themselves loan forgiveness.

They watched our biggest and wealthiest banks get a bailout in 2009, and see absolutely no reason why they shouldn't.


50 posted on 01/14/2020 11:15:33 AM PST by Buckeye McFrog (Patrick Henry would have been an anti-vaxxer)
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To: kaehurowing
1. She doesn’t have the power. 2. It would be a “taking,” and a massive violation of the Fifth Amendment.

Do your homework. The Feds have already used (abused?) this law to wipe-out student debt in certain cases.


51 posted on 01/14/2020 11:16:59 AM PST by Buckeye McFrog (Patrick Henry would have been an anti-vaxxer)
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To: tcrlaf

Cruelest campaign lie of the century.


52 posted on 01/14/2020 11:20:16 AM PST by Democrats hate too much
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To: Codeflier
But who is going to lend the money in the future? The government directly?

All student loans are already done by the government. This takeover was part of Obamacare.
53 posted on 01/14/2020 12:08:23 PM PST by arista
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To: arista

Kind of nebulous, but after checking I see you are mostly correct. One source said that the federal government loses 150 - 250 billion per year on student loan programs. That translates to a lot of happy, fat cats in academia.


54 posted on 01/14/2020 1:36:52 PM PST by Codeflier (Tagline for sale.)
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To: ChildOfThe60s

Do not be too certain that she can’t buy votes with this.

A lot these people owing this debt are going to consider there personal situation whole lot more important than what’s right for the country. “””

I would bet that there are MORE people who paid for college themselves or PAID OFF their student loans than current loan holders.

Those who played by the rules won’t want to vote for a “President’ who would let so many others off the hook for free.

She is nuts.


55 posted on 01/14/2020 2:02:03 PM PST by ridesthemiles
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To: tcrlaf

The Dimms... the FREE $HIT FOLKS!


56 posted on 01/14/2020 2:07:10 PM PST by VideoDoctor
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To: tcrlaf

Warren executive order to bail-out overpriced leftist
indoctrination centers - bump for later.....


57 posted on 01/14/2020 2:36:48 PM PST by indthkr
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To: tcrlaf

Reimbursement for the responsible students who worked hard to pay off their student loans?


58 posted on 01/14/2020 2:55:59 PM PST by From The Deer Stand
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To: Quality_Not_Quantity
So, the government (repeat with me now: ‘We’re here to help you’) will have to step in and guarantee/pay off some, if not all, of the debt. This will be a bailout on a high order.

The government already does that. Google Search Maxine Waters and her house committee interviewing several bank CEOs on student loans.
59 posted on 01/14/2020 3:36:31 PM PST by Svartalfiar
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