SCOTUS kills Biden's student loan/debt relief plan...

For anybody who thinks that Republican SCOTUS did the right thing here, tell me what this statute means:
20 U.S. Code § 1098bb - Waiver authority for response to military contingencies and national emergencies
"Notwithstanding any other provision of law, unless enacted with specific reference to this section, the Secretary of Education (referred to in this part as the “Secretary”) may waive or modify any statutory or regulatory provision applicable to the student financial assistance programs under title IV of the Act [20 U.S.C. 1070 et seq.] as the Secretary deems necessary in connection with a war or other military operation or national emergency to provide the waivers or modifications authorized by paragraph (2)."

Keep in mind that COVID-19 was an undisputed national emergency.

 

This was absolutely inevitable. Even key Democrats understood that this could not be done via executive fiat. I’m only curious on what was the ostensible reason was for the three dissenters. “Regardless of what the law specifies, the President has whatever power he says he has to do whatever he wants.” There’s no other way to skin this thing. If it’s important, pass a law and compromise.

 

Thanks. I went the military route years ago, though not to earn the GI Bill. I got some credits in the Bootstrap Program, and later used the GI Bill for college and law school. No debt!

 

That's nonresponsive to my point. It is undisputed that Biden's loan forgiveness program would have been executed during the national emergency if not for the judiciary intervening.

 

never let a crisis go to waste. Nobody is surprised the effort to use ‘national emergency’ as vote buying scheme was attempted , but the whole “science is settled, not a close call” closing line seems more like a petulant child than an argument.

 

Apparently they can be bought.
Not sure they'll vote otherwise.
Valuable lessons learned here though.
1) When Democrats try to buy your vote, think long and hard.
2) Don't sign your name to a loan you don't intend to pay back.

 

The fact the rate is 3% is the ONLY reason my wife and I still have any student loan debt. My undergrad loans were 5-6%, and I paid those of quickly after I graduated. My wife did undergrad + law school, and she was able to lock in a consolidation loan at 3%. We put that on a 30yr payback plan way back in 2003, and haven't paid a penny extra. We figure the time value of money, inflation, etc., just makes it cheaper and cheaper over time. And we've done WAY better than 3% over the years investing instead.

 

The 10k they proposed wouldn’t dent mine but I’d take it for sure. However, I wouldn’t bitch and moan about it if not. I took out the loan and I should repay it. The issue with all these people whining and crying is they were banking on forgiveness. How about you don’t borrow money to pursue a bullshit degree?

 

Difference is a business loan has assets that can be recovered; even at pennies on the dollar. Can’t take the knowledge back.

 

They do when they skimp on state appropriations for higher ed.

 

Same thing I’ve done. Will be the last debt I payoff.

 

Government needs to get out of the market for prices to stabilize. Bad government loans create an artificial balloon of demand, which inflates the price of an education. Get the government out of it, and the price will come down.

 

Biden says he will use another law on the books to go around SCOTUS.

Good for him. This court isn't legitimate.

 

Gov forced closures vs elective borrowing often for degrees at schools that aren’t worth the money borrowed.
Nice false equivalence.

 

Well it certainly isn’t the same.
Nobody was forced to borrow money for college.
On the other hand business were forced to close. I guess they could have just fired all their staff and let them get UE…

 

Similar to comparing it to covid relief…
Over simplified

 

Beleaguered med school grad: “Now how am I going to get out from under this debt ?”

Canadian doctor: “Have you considered dying ?”