Student loan cancellation
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Payback moratorium extended.
The Biden administration announced Tuesday that it would extend the payment pause on federal student loans, as President Joe Biden’s debt cancellation plan remains blocked in court.
The payment pause, which was previously set to expire in January, will be extended until June 30 or until the litigation is resolved — whichever comes first. If the litigation has not been resolved by June 30, payments will resume 60 days after that.
“I’m completely confident that my plan is legal,” Biden said in a video announcement. “But it isn’t fair to ask tens of millions of borrowers eligible for relief to resume their student debt payments while the courts consider the lawsuit.”
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Payback moratorium extended.
The Biden administration announced Tuesday that it would extend the payment pause on federal student loans, as President Joe Biden’s debt cancellation plan remains blocked in court.
The payment pause, which was previously set to expire in January, will be extended until June 30 or until the litigation is resolved — whichever comes first. If the litigation has not been resolved by June 30, payments will resume 60 days after that.
“I’m completely confident that my plan is legal,” Biden said in a video announcement. “But it isn’t fair to ask tens of millions of borrowers eligible for relief to resume their student debt payments while the courts consider the lawsuit.”
@George-K said in Student loan cancellation:
“I’m completely confident that my plan is legal,” Biden said in a video announcement. “But it isn’t fair to ask tens of millions of borrowers eligible for relief to resume their student debt payments while the courts consider the lawsuit.”
I wonder if he really thinks this will get through the court, or if he's just keeping his game face on. I'm guessing the latter.
“Don’t make me repeat myself”
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I do feel bad for the kids. They don’t really get it yet. I mean, Lucas got the economics of everything and rationally he knew that this program could ultimately cost him more than it gave him, on an emotional level these kids thought $10-20K in debt was about to be wiped out and now it’s not.
@LuFins-Dad said in Student loan cancellation:
Lucas got the economics of everything and rationally he knew that this program could ultimately cost him more than it gave him, …
Of course it “could” as a matter of possibility, just like buying a lottery “could” make you rich or using a condom “could” still get you STDs. But what’s the likelihood of it happening? How does Lucas think through how likely it is that his student loan being forgiven will ultimately cost him more?
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"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
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@George-K said in Student loan cancellation:
“I’m completely confident that my plan is legal,” Biden said in a video announcement. “But it isn’t fair to ask tens of millions of borrowers eligible for relief to resume their student debt payments while the courts consider the lawsuit.”
I wonder if he really thinks this will get through the court, or if he's just keeping his game face on. I'm guessing the latter.
@jon-nyc said in Student loan cancellation:
@George-K said in Student loan cancellation:
“I’m completely confident that my plan is legal,” Biden said in a video announcement. “But it isn’t fair to ask tens of millions of borrowers eligible for relief to resume their student debt payments while the courts consider the lawsuit.”
I wonder if he really thinks this will get through the court, or if he's just keeping his game face on. I'm guessing the latter.
Me too. You can't spend billions of unallocated dollars just by sayso.
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@George-K said in Student loan cancellation:
SCOTUS grants cert...
Which suit? The states? Or the Texas case?
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@jon-nyc said in Student loan cancellation:
They'll be combined I'm sure in a single oral argument and decision.
But they are two very different cases being made... The Texas case is/was about the required amount of time for public comment. It was actually kind of surprising to me to see the judge rule so broadly against the Executive Order on such narrow grounds... And the states case still doesn't have standing. The block from there is just a temporary block while the states appeal is heard, no?
So are the judges given the latitude to rule on issues that are far beyond the issues of the original suits?
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Best comment? "As it turns out, he only has 1/1024th of the constitutional authority you think he has."
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True, I almost wrote ‘Congress has standing but they don’t want to challenge it” but was tired of typing
@jon-nyc said in Student loan cancellation:
True, I almost wrote ‘Congress has standing but they don’t want to challenge it” but was tired of typing
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@jon-nyc said in Student loan cancellation:
True, I almost wrote ‘Congress has standing but they don’t want to challenge it” but was tired of typing
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Educational credentials for everybody is an important part of equity. We're long past the point where the credentials are meaningful in terms of how intelligent or able a person is, but people are not, by and large, intelligent or able enough to understand that. It's difficult not to feel sorry for young people who strive for that university degree, which their parents never got, who think it's worth so much, not knowing it's a meaningless symbol, dumbed down to nothing. I hope it at least helps them get a job. We'll have a nonsense job economy after AI takes over anyway. I shudder to think of the 'skills' it will take to get ahead in the corporate world, after all vestiges of ability are obsoleted.
