Federal appeals court blocks remainder of Biden's student debt relief plan
Federal appeals court blocks remainder of Biden's student debt relief plan
apnews.com
Federal appeals court blocks remainder of Biden's student debt relief plan
21 comments
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I still don’t understand why they didn’t just zero the interest on all the loans made between a certain time period. Seems like that would have been simpler and less controversial.
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I don't believe any specific policy change which benefitted a broad swath of the public could have survived the current courts.
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Because the banks wouldn’t like that at all
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That requires Congressional action, and financial allocations, which haven’t been forthcoming.
While I like what Biden is doing, he’s really just finding the loopholes in previous legislation. It has to be inconsistent
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I agree. In my opinion, this solution has always made the most sense. I’m sure some conservative judge will be/has been bribed enough to block it, but the zero interest rate along with eliminating accumulated interest is the best solution.
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That's basically what the SAVE plan did. If you enrolled in it and made qualifying income-based payments that didn't cover the interest on the loan, the interest wouldn't capitalize and it would still count as a qualifying payment for PSLF. It wasn't loan forgiveness, but it ensured that payers wouldn't have their loan balances skyrocket while making income-driven repayments.
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Crazy idea: the day before the election, Biden (or his replacement) makes a nationwide address telling anyone with student loans to just stop paying them, and that if the Dems win, their administration promises to spend the next four years handling the fallout.
If the Dems lose, we as a country will have bigger issues to worry about. If the Dems win, we might finally have a campaign promise that we can hold them accountable for.
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I don't care. I'm not paying those fucking loans.
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A few dollars out of your current level of taxes to ensure future generations can afford to live is too much, but all the other bullshit is cool...
That's a fucked up view.
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Not the guy you replied to, but "a few dollars" is bullshit. My wife and I owe almost $100k MORE than when we graduated due to interest. And we've made every payment since we graduated in 2010. Our monthly payments don't even cover interest
Pre edit: after I wrote that, I wondered if you realized the person you responded to meant they weren't paying their own loans
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While I agree with your sentiment, the issue is that there are actual consequences to not paying them. Ultimately up to 15% of your wages could be garnished, and your credit score will be tanked. Good luck getting a car or home loan after that.
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Jokes on them, I can't afford a home and I have immaculate credit!
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21 comments