Posted on 06/30/2023 9:08:53 AM PDT by BradtotheBone
The US Supreme Court shot down the Biden administration’s controversial plan to forgive billions of dollars in federally-backed student loan debt, a decision that means millions will have to start making repayments later this year.
In a 6-3 decision down ideological lines, the justices held that the administration wasn't authorized to offer the debt relief under a 2003 law known as the HEROES Act. The Biden administration invoked that act during the initial stages of the COVID-19 pandemic as authorization for the student loan relief.
"The text of the HEROES Act does not authorize the [Education] Secretary’s loan forgiveness program,"Chief Justice John Roberts wrote in the majority opinion.
Power given to the secretary under the law to “modify” student loan programs, the justices held, does not permit “basic and fundamental changes in the scheme” designed by Congress.
The Biden administration estimated that 20 million borrowers would have had their student loans forgiven as part of its plan. The total number of borrowers with student loan debt is 43 million. More than 26 million borrowers applied for relief before the court disputes brought the program to a halt.
Those who were granted a pause will have to resume making interest payments on Sept. 1 and regular payments due starting in October.
(Excerpt) Read more at yahoo.com ...
“ Wouldn’t everybody that ever took out a student loan, be entitled to get their student loans forgiven, even if paid off or partially paid? Thus, somebody that graduated from college 50 years ago could demand to get his student loan payments refunded.”
That right send me the check you ignorant libtards
Wow
Gotta take our wins where we can get them these days, it's few and far between
Federal loans for STEM only.
The real good news is....BOTH the House and Senate have ruled against any plan to forgive these loans.
This just in ... the leftist have chosen to ignore the SCOTUS and will go around them in their efforts to pay off voters.
When I graduated in 1977...the school had conducted two hours over 12 years about bank accounts, writing checks and balancing a checkbook. For my next 15 years in the Air Force...they didn’t even go that far. Late nineties, you’d see at least twice a year....some kind of financial management seminar offered by the Air Force. They’ve all improved somewhat.
I think 90-percent of high school kids would be better off in some trade-school or community college for 2 years, and you’d get more bang for your buck.
That’s right. Basket weaving just got a whole lot more expensive.
how about no federal loans at all? Let the universities underwrite them ...
Got a degree in sociology in 1974, and it was actually a pretty good major in those days although essentially of no value in the job market unless you wanted to go into the social welfare system. Which I definitely did not.
However, while didn’t get me a high paying job, I got a student deferment. So I considered that sufficient.
Don’t celebrate yet. Libs think they are immune to and can ignore SC decisions that they don’t agree with.
Maybe Jotato can forgive our 30 trillion national debt instead.
Good! You have a debt, pay the damn thing off..my Mom owes 200K in mortgage payments, is Biden going to forgive that loan too, nah I didnt think so
Yep, just like the affirmative action decision yesterday......anybody that thinks they’re gonna accept these decisions needs to wake up.
Liberals are trying to convince Americans we are a democracy. We are a republic. In a democracy the majority rules. In a republic the constitution rules.
Brandon can use Hunter’s slush fund...
Even now, Low Joe is concocting ways to protect the little deadbeats by delaying payments.
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