[Secret Agent Man]

Keep looking.

Its not there.

He has zero legal power to cancel loan contracts of banks and private individuals.

He is not king.

He is not even the president.

Cheater in Thief.

[rarestia]

He has zero legal power to cancel loan contracts of banks and private individuals

Actually, the Obama administration consolidated and centralized the student loan business under the federal government. "Stroke of a pen."

[Starboard]

Don’t underestimate him. He’s got the media, the courts, federal agencies and the congress backing him. He’s got carte blanche.

We are no longer a nation of laws. We are ruled by fiat.

[31R1O]

FedGov owns the paper for many student loans now. Obamacare did that to use the interest payments to help subsidize the costs of health care.

[Josa]

He does have authority to use his personal wealth to pay on loans

[billakay]

The student loans in question were extended by the government. In fact, since 2010, almost all federal student loans are actually extended by the government...there is no bank in the picture.

This is why he thinks he can do it.

[semaj]

He might be able to if a court can be convinced that the contracts were made under fraudulent circumstances.

[Blood of Tyrants]

“He has zero legal power to cancel loan contracts of banks and private individuals.”

And Obummer had zero legal authority to take over GM and throw out the bondholders claims, either.