Supreme Court blocks Biden's student loan forgiveness program

Supreme Court blocks Biden's student loan forgiveness program

https://www.cnn.com/politics/live-news/supreme-court-decisions-06-30-23/index.html

Another strike for the RW Supreme Court They are on a roll. Of course, this ruling was not unexpected.

Personally, I think something needs to be done to make college more affordable, but student loan forgiveness is not it. It's too arbitrary, and really doesn't move the needle when it comes to student loans, for which the federal portion is usually only a small amount.

I'd say a much better initiative would be to raise the limit of annual federal loans from $5,500, and make interest rates affordable (current interest rates on private student loans are +8.5%).

 

For many this ruling was expected.

 

Totally EXPECTED...

 

I like your policy proposals. Are you a politician or is this just more proof that anyone can come up with better policy than Joe?

 

Right decision, it was nothing more than pandering by senile Joe . Why should someone who paid their student loans-or a guy who went into the trades, have to pay for someone who majored in a subject that doesn't even pay their bills.

 

I didn't think that was going to pass legal muster there. I understand the intent, but full forgiveness on the loans would have been too much. That said, I have zero issue with renegotiating the terms for assistance.

 

America won't blame the old guy for trying.... They'll continue blaming the 6 other old doofuses (doofi?) who stopped it.

I'm personally not for this concept myself, but I disagree that Biden didn't have the authority to do it...

 

Regarding the cost of tuition, about a year ago I saw a story stating that one university, either Michigan or Minnesota, spends 55% of their tuition revenue on retirement benefits for admins, profs and other employees.

 

This is the correct and obvious decision based on the law.

 

very strange he would go after hard working citizens for this money instead of just trying to get college tuition prices lower or maybe something to do with the interest rates.

 

Actually, I am a chemistry professor at a university, but I also have a son who will be going to college in the fall. I didn't know how crazy the student loan system is until we actually went through it ourselves.

1) Max federal loans are $5,500 per year. Are you kidding me? With private school, this won't cover more than 10% of annual costs.
2) You can't even apply for a private student loan until July 1st. REALLY? You have to sing for college before June 1st, but you don't even know if you will get a loan, and, if so, at which rate? This is like signing on the dotted line for buying a car, not knowing if your monthly payment will be $400 or $800.
3) Private loan interest rates are crazy. We first went to our bank, they said 11%. Now, I understand that there is an interest rate premium because there is no physical asset behind the loan. But, student loans cannot be discharged, so I don't understand why this premium is so high.
4) The student loan system is a minefield of confusing information. Deferred interest vs. annual paid interest is only the start....

I don't believe that many parents and students really understand what they get into when getting a student loan. In fact, I know because I speak with them at our accepted students weekends, and many have no clue.

Me, I did a spreadsheet with my son and calculated the total cost of his private dream college vs public in-state school. At the end the choice was between graduating with $200,000 student loan debt (on top of our contribution), or graduating public college debt free. He was smart to decide for the debt-free route.

 

As POTUS Biden has a lot of authority, and whether that authority allows him to cancel student loans is obviously questioned be the Supreme Court. Most people will not make this a major issue, IMHO.

 

that's insane!

 

what part of the constitution authorized Biden to do that?

 

This court itself is beyond a major issue.... it's a major disaster.

But I agree that the Student Loan issue isn't as much....

 

when I attended Yale, the total cost for my senior year was less than 10,000 a year. My Niece graduated Yale two years ago-it was over 60K IIRC. My last year in one of the most expensive law schools was also about 10K. starting salaries-for those who chose to go to wall street-was over 100K. So if you attended say Columbia, Harvard, Cornell (those are the three with the highest average starting salaries IIRC), you might start at a big NYC firm with 25K in debt but in 1984 one of the top NYC firms offered me 115K a year right out of law school. Paying off that 25K debt would not have been all that tough. Now it's like 170K in debt for law school alone and the starting salary in NYC is not 6 times what I was offered in 84. Some claim that all the loans and grants are why tuition has inflated so rapidly. I don't know. But it's nuts.

 

it's a major disaster to leftwing authoritarians who ignore the constitution and want the supreme court to rubber stamp unconstitutional bullshit. TO those of us who actually understand constitutional law, the current Supreme court is actually doing the right thing-a welcome change from the crap we saw (and still deal with)from FDR and the 61-69 Dem appointees.

 

Do you believe it is right to make responsible people pay for the irresponsibility of others? What about the bloated system that makes education so expensive in the first place? Aren't we in the information age?

 

Supreme Court blocks Biden's cheap attempt at buying student votes...

 

SNIP
the Biden Administration revealed its legal justification for categorical cancellation. In an opinion dated August 23, 2022, the Department of Justice’s Office of Legal Counsel (OLC) concluded that the Higher Education Relief Opportunities for Students (HEROES) Act of 2003, as amended, authorizes the Secretary of Education (Secretary) to relieve borrowers of the obligation to repay federal student loans. This relief, OLC explained, could in some cases be justified under the HEROES Act as a response to the COVID-19 pandemic
ENDSNIP

https://crsreports.congress.gov/product/pdf/LSB/LSB10818

 

what part of the constitution authorizes Biden to do that.

 

it was pandering clear and simple. it's fun watching alleged liberals telling working class and blue collar folks they need to pay for kids who major in bullshit like art history or french theater fashions that doesn't lead to jobs better than "do you want fries with that sir"

 

I always thought Biden’s loan forgiveness plan was unconstitutional because it amounted to negating laws passed by Congress. It was also patently unfair to those who paid for their education or their children’s education.

Good decision. Our Founders did not give the President the power to arbitrarily overrule standing law.

That said, having an educated workforce is good for America. We can explore better ideas. For example ….

Statistically, better educated people make more money in their lifetimes than lesser educated people. The more you make, the more you pay in taxes. So the more educated the population is, the better it is for our government’s revenue, and the overall economy.

So perhaps student loans ought to be repaid but without interest, provided that the student graduates with a degree. Just pay back the principal. Just an idea.

 

The same part where it says he can ban guns and give farmers preferential treatment based upon race.

 

I am too puzzled by some of their decisions too, especially allowing businesses to refuse certain customers. That is only going to make a mess of things, they are part of this political polarization.