Biden expected to announce $10,000 student loan forgiveness

[UsualName]

whoa....

There was a larger argument that creeped into this thread here. Im just having some fun with @Tony Stark

 

[vanzandt]

Why does that matter? AA has been thru many admins as well.

In the discussion at hand it matters in the sense that you can't really assign that to one party or the other.

 

[murray t turtle]

It might just hurt your ES 4800 thesis though. I think it will. It's definitely gonna affect consumer Q4 spending. Does some of the work for Powell.

%%
YOU maybe right.... does some of the wok for Powell.
Gov needed the money, not another gov giveaway.
Maybe better to pay back the loan than count it as ghost gov income/debt forgiveness.
Sorry they had to learn the hard way, try to avoid gov debt.

 

[Tony Stark]

The fact that student loans can't be included in a bankruptcy whereas all other debt can is a reflection of republican hypocrisy.

Biden is largely responsible for that.

 

[Tony Stark]

Now @Tony Stark wont be voting for Joe Biden again, again!

Facts.Approval ratings shows millions of other Dems wont be either.

 

[exGOPer]

Biden is largely responsible for that.

He was one vote in a Republican majority Congress, 'largely'.

 

[Tony Stark]

I have not read the entire HEROES act so I will refrain from giving any detailed opinion but all I said is I could see the SC saying Biden did not have the authority through the DoE to simply wipe out a broad sepctrum of student loans when the act was for exclusions for specific candidates who met certain criteria.

If I understand correctly Biden waived debt for anyone making under a certain income level. If that was the only requirement then it is pretty arbitrary because then it is not within the HEROES act intent.

This article highlights some of the wide issues that make Biden's actions questionable:
https://thecollegeinvestor.com/35892/is-student-loan-forgiveness-by-executive-order-legal/

Biden wanted to waive all debt obligations across the board rather than have any specific program authorized under any statute.... this is where the debate centers.

There was a better law he could have used that says the education secretory can discharge student debt,Warren and other progs told him to use that law but he choose the weaker law most likely to get shot down.

 

[Tony Stark]

He was one vote in a Republican majority Congress, 'largely'.

He was the biggest democrat supporter of the bill

https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020

 

[exGOPer]

He was the biggest democrat supporter of the bill


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https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020


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'Biggest'

What does that mean? Just because other Dems weren't quoted in the article, means they were smaller?

Bill would have passed regardless, his support or non support was meaningless.

 

[Sprout]

How long has that been in effect though? Thru how many Administrations?

Biden is largely responsible for that.

"Student loans first became nondischargeable in bankruptcy in 1976 as part of § 439A Higher Education Act of 1976. Except in cases of undue hardship, Section 439A prohibited debtors from discharging student loan debt until five years after the start of the repayment period."

https://www.tateesq.com/learn/student-loan-bankruptcy-law-history