JDHillFan Posted July 18, 2024 Posted July 18, 2024 2 minutes ago, Backintheday544 said: It’s the 8th circuit putting an emergency stay on it. you can read the entire ruling here: https://storage.courtlistener.com/recap/gov.uscourts.ca8.109302/gov.uscourts.ca8.109302.805045608.0.pdf It’ll take you 10 seconds. its interesting as this is for the SAVE plan. Presidents in the past have been allowed to change plans. Bush, Trump and Obama all did it. This is now destined for the Supreme Court. Would totally change student loans if the SC finds the President cant change plans. I think the interest part of this ruling that the other court rulings didn’t do was it blocked the cap on monthly repayment at 5 percent from the 10 percent it was (depending on plan). Toss everyone’s loans on administrative forbearance into SCOTUS determines. Gets everyone closer to their 10 or 20 years without making payments. This highlight to the several million voters that Republicans just made their monthly student loan payment increase. Biden also announced another $2 billion in PSFL forgiveness today. Also this effects $5.5 billion of the $168.5 billion forgiven. In short, you believe the 8th circuit is wrong. Got it.
Backintheday544 Posted July 18, 2024 Posted July 18, 2024 14 minutes ago, JDHillFan said: In short, you believe the 8th circuit is wrong. Got it. They granted a stay. I can’t disagree with any argument saying Biden is wrong because they haven’t ruled it. It probably sucks for the people who had cancellation since their debt would be at max $12,000 I believe, but overall 97 percent of Biden’s student loan forgiveness is still granted.
B-Man Posted 6 hours ago Posted 6 hours ago Vote 'buying' is costly. Biden Forgives Student Loans and ... Behold, Defaults Skyrocket Stephen Moore Here's an economics lesson that belongs in the textbooks. Student loan debt soared to more than $1.5 trillion during the Biden presidency, and the response by Washington was to "forgive" hundreds of billions of these unpaid loans by deadbeat borrowers and let the taxpayers pick up the tab. It was never clear why the universities that charge exorbitant tuitions that have reached more than $75,000 a year at many elite schools shouldn't bear the cost of the program -- but that's another story. Those of us who watched these events unfold predicted that one result of this policy would be that many college graduates would stop paying back their loans. And guess what? Just like clockwork, this headline from Bloomberg recently told the whole story: "Student Loans Drive US delinquency Rate to Highest Since 2020." Gee, who -- except a bunch of head-in-the-sand politicians in Washington -- would have ever thought that forgiving as many people from paying their student loans as possible would increase future nonpayments? Well, the Biden administration, for one. Now that the Department of Education is honestly reporting the data, we find that serious delinquency rates are over 10 times what the Biden Department of Education said they were. There is an old saying in physics and economics: Every action in the universe has a reaction. How many students in the future will pay back unpaid student loans when the next forgiveness program is right around the corner? So people who did the right thing and paid back their debts now have to pay more for the people who refused to pay back the money they owed. https://hotair.com/stephen-moore/2025/05/25/biden-forgives-student-loans-and-behold-defaults-skyrocket-n3803085 1
Doc Posted 5 hours ago Posted 5 hours ago 34 minutes ago, B-Man said: Vote 'buying' is costly. Biden Forgives Student Loans and ... Behold, Defaults Skyrocket Stephen Moore Here's an economics lesson that belongs in the textbooks. Student loan debt soared to more than $1.5 trillion during the Biden presidency, and the response by Washington was to "forgive" hundreds of billions of these unpaid loans by deadbeat borrowers and let the taxpayers pick up the tab. It was never clear why the universities that charge exorbitant tuitions that have reached more than $75,000 a year at many elite schools shouldn't bear the cost of the program -- but that's another story. Those of us who watched these events unfold predicted that one result of this policy would be that many college graduates would stop paying back their loans. And guess what? Just like clockwork, this headline from Bloomberg recently told the whole story: "Student Loans Drive US delinquency Rate to Highest Since 2020." Gee, who -- except a bunch of head-in-the-sand politicians in Washington -- would have ever thought that forgiving as many people from paying their student loans as possible would increase future nonpayments? Well, the Biden administration, for one. Now that the Department of Education is honestly reporting the data, we find that serious delinquency rates are over 10 times what the Biden Department of Education said they were. There is an old saying in physics and economics: Every action in the universe has a reaction. How many students in the future will pay back unpaid student loans when the next forgiveness program is right around the corner? So people who did the right thing and paid back their debts now have to pay more for the people who refused to pay back the money they owed. https://hotair.com/stephen-moore/2025/05/25/biden-forgives-student-loans-and-behold-defaults-skyrocket-n3803085 That's what I've been saying for years. Get it back from the institutions who got it. And another lesson: government involvement always increases prices. Always. BTW, on a good note, my son will end up paying about $19K/year for law school, at a top-20 school no less. He got a $17K/year merit-based scholarship and when he went for accepted students day they told him to establish residency during his first year and then get in-state tuition for the remaining 2. 3 1
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