Supreme Court Ruling on Student Loan Forgiveness

Phantasmal

Phantasmal

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Staff member
“The Supreme Court’s rejection on Friday of President Biden’s student debt relief plan instantly unravels one of the president’s signature efforts and ratchets up the pressure on him to find a new way to make good on a promise to a key constituency as the 2024 presidential campaign gets underway.”

https://www.nytimes.com/2023/06/30/u...ent-loans.html

It’s a shame we can bail out banks and Wall Street, forgive PPP loans to the rich, but can’t help college students.
 
I think it was done the wrong way.

I never liked the idea that people with $10k or less in loans got a 100% free ride.

IMO, they should have made it a percentage across the board.

Maybe some kind of sliding scale based on income and dependents, etc.

But everybody should have had to pay something.
 
Phantasmal said:
“The Supreme Court’s rejection on Friday of President Biden’s student debt relief plan instantly unravels one of the president’s signature efforts and ratchets up the pressure on him to find a new way to make good on a promise to a key constituency as the 2024 presidential campaign gets underway.”

https://www.nytimes.com/2023/06/30/u...ent-loans.html

It’s a shame we can bail out banks and Wall Street, forgive PPP loans to the rich, but can’t help college students.
Click to expand...

Pressure on him? Why? He tried to help the students, but the Repubs stopped it. They should come up with something.
 
Nordberg said:
Pressure on him? Why? He tried to help the students, but the Repubs stopped it. They should come up with something.
Click to expand...

I agree, I posted the article because I was banned from Biden’s thread and wanted to reply.

The Republicans aren’t interested in helping the 99%.
 
Nomad said:
I think it was done the wrong way.

I never liked the idea that people with $10k or less in loans got a 100% free ride.

IMO, they should have made it a percentage across the board.

Maybe some kind of sliding scale based on income and dependents, etc.

But everybody should have had to pay something.
Click to expand...

This whole student loan debt forgiveness at its core was a political move, not an economic one. It does absolutely nothing to address the rising cost of college, in fact this only helps to accelerate it. Nor is it a sustainable action.

But what it does do is allow some people to say "see Democrats care and Republicans don't". That was the whole purpose behind it.
 
Phantasmal said:
“The Supreme Court’s rejection on Friday of President Biden’s student debt relief plan instantly unravels one of the president’s signature efforts and ratchets up the pressure on him to find a new way to make good on a promise to a key constituency as the 2024 presidential campaign gets underway.”

https://www.nytimes.com/2023/06/30/u...ent-loans.html

It’s a shame we can bail out banks and Wall Street, forgive PPP loans to the rich, but can’t help college students.
Click to expand...

They were helped...they got a college education!
 
Phantasmal said:
“The Supreme Court’s rejection on Friday of President Biden’s student debt relief plan instantly unravels one of the president’s signature efforts and ratchets up the pressure on him to find a new way to make good on a promise to a key constituency as the 2024 presidential campaign gets underway.”

https://www.nytimes.com/2023/06/30/u...ent-loans.html

It’s a shame we can bail out banks and Wall Street, forgive PPP loans to the rich, but can’t help college students.
Click to expand...
When can help students out but it has to be a law approved by Congress like the Constitution intended.
 
cawacko said:
This whole student loan debt forgiveness at its core was a political move, not an economic one. It does absolutely nothing to address the rising cost of college, in fact this only helps to accelerate it. Nor is it a sustainable action.

But what it does do is allow some people to say "see Democrats care and Republicans don't". That was the whole purpose behind it.
Click to expand...

Well, politics is a component of everything every politician does.

Republicans included or even especially.

And, it can be argued that freeing up all the disposable income that would otherwise have gone to paying down student loan debt, could have gone into the economy and helped increase demand for goods and services and at the same time, create new jobs.

Whatever.

I still think they should have done it a little differently.

Moot point now though.
 
Phantasmal said:
“The Supreme Court’s rejection on Friday of President Biden’s student debt relief plan instantly unravels one of the president’s signature efforts and ratchets up the pressure on him to find a new way to make good on a promise to a key constituency as the 2024 presidential campaign gets underway.”

https://www.nytimes.com/2023/06/30/u...ent-loans.html

It’s a shame we can bail out banks and Wall Street, forgive PPP loans to the rich, but can’t help college students.
Click to expand...

I know this guy that can make payments on two jet skis a motorcycle a ski boat...

But refuses to make a his student loan payment



He was able to get the job he has because of the college he went to that was paid for by loans... But refuses to make payments.... But he can pay $2,500 for front row tickets to a concert
 
The US should develop a QUALITY 4 year college online that is free. The first two years of courses should be transferable to any college that accepts federal money or school loans. It would lower the cost of education and make education more available to those that don't live near a college or University.
 
Nomad said:
Well, politics is a component of everything every politician does.

Republicans included or even especially.

And, it can be argued that freeing up all the disposable income that would otherwise have gone to paying down student loan debt, could have gone into the economy and helped increase demand for goods and services and at the same time, create new jobs.

Whatever.

I still think they should have done it a little differently.

Moot point now though.
Click to expand...

In no way is this type of activity exclusive to Democrats. Just in this particular case it happens to be about them.

The court ruling isn't surprising as even Nancy Pelosi said in 2021 that the President doesn't have the power to cancel student debt, it has to go through Congress.

Since root cause is a favorite word in certain circles the best way to deal with student loan debt is dealing with the ever rising cost of college. That's a separate discussion though.
 
Phantasmal said:
“The Supreme Court’s rejection on Friday of President Biden’s student debt relief plan instantly unravels one of the president’s signature efforts and ratchets up the pressure on him to find a new way to make good on a promise to a key constituency as the 2024 presidential campaign gets underway.”

https://www.nytimes.com/2023/06/30/u...ent-loans.html

It’s a shame we can bail out banks and Wall Street, forgive PPP loans to the rich, but can’t help college students.
Click to expand...
I came from a single income mechanic family. So I didn't have an economic advantage in fact my father's supervisor was black. I paid back all my loans and paid for my kid's and my niece's educations. So remind me again why I should pay for some lawyer's Harvard education. I'm not seeing it.
 
Phantasmal said:
“The Supreme Court’s rejection on Friday of President Biden’s student debt relief plan instantly unravels one of the president’s signature efforts and ratchets up the pressure on him to find a new way to make good on a promise to a key constituency as the 2024 presidential campaign gets underway.”

https://www.nytimes.com/2023/06/30/u...ent-loans.html

It’s a shame we can bail out banks and Wall Street, forgive PPP loans to the rich, but can’t help college students.
Click to expand...

Bailing out banks is unconstitutional in just the same way. So is forgiving PPP loans.
 
Nomad said:
Well, politics is a component of everything every politician does.

Republicans included or even especially.

And, it can be argued that freeing up all the disposable income that would otherwise have gone to paying down student loan debt, could have gone into the economy and helped increase demand for goods and services and at the same time, create new jobs.

Whatever.

I still think they should have done it a little differently.

Moot point now though.
Click to expand...

Did you know that government overspending, inflation, high taxes, and the high debt is HURTING the economy???

No, communism doesn't work.
 
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