The grifting senile old fart just cost you another $12.53.
https://www.zerohedge.com/political/education-department-cancels-another-42-billion-student-loan-debt
The latest round of relief provides $1.26 billion for 85,000 individuals who attended schools that allegedly “cheated and defrauded their students;” $2.5 billion for 61,000 borrowers with total and permanent disabilities; and $465 million for 6,100 public service workers, the U.S. Department of Education said on Monday.
This latest action brings the total student loan debt canceled since Biden took office to $183.6 billion, benefiting more than 5 million Americans, according to the White House.
In 2022, the Biden administration finalized a new borrower-defense rule designed to provide full relief to borrowers who had received partial forgiveness under the DeVos-era policy. However, the rule has been put on hold since the summer of 2023, following a ruling by the U.S. Court of Appeals for the Fifth Circuit.
That court granted a preliminary injunction in April, citing “numerous statutory and regulatory shortcomings” in Biden’s policy. The appellate judges also called some provisions “certainly unlawful” and criticized the rule’s “vague, brand new standards” for holding colleges accountable.
“The unbridled scope of these prohibitions enables the department to hold schools liable for conduct that it defines only with future ‘guidance’ documents or in the course of adjudication,” the judges wrote in their opinion. “Simply put, the statute does not permit the department to terrify first and clarify later.”
The Supreme Court has yet to say when it will hear oral argument
"No one is above the law."
Oh. My. Sides.
