I was talking to my conservative parents today and they were saying "don't count your chickens before they hatch" because there would be many lawsuits against this and they're hoping to get the forgiveness reversed. Of course this is a massively ghoulish position to hold, but after looking into it it does seem like they may be able to do this on the basis that the president can't really allocate money under the :constitution-cool:.
I don't think they actually will do this though because it would be wildly unpopular and diminish the ordinary populace's faith in the government even more. That may be a goal for Republicans though, but at some point the bourgeois must make concessions in order to placate the masses and I think this is probably one of those times.
What do yall think? Is this "illegal" and could it be overturned? Kinda worried about this because this eliminated my SO's student debt
Lol. The Fed owns the loans, they can forgive them with the stroke of a pen. There's nothing even a snied piece of shit conservative lawyer could do about it.
Edit: partner is a litigator. If you hear about any lawsuit against loan forgiveness in the future, rest assured its a bullshit publicity stunt for some ghoulish firm
Yeah most people whining about this don't understand that these loans where make with money the fed printed out of thin air and can just be erased with no real issues.
The Higher Education Act of 1956 explicitly authorizes the Secretary of Education to "enforce, pay, compromise, waive, or release any right, claim, lien, or demand" any student debt held by the federal government. Your parents are just regurgitating right-wing talking points, don't listen to them.
It will be challenged in court, for sure, just like every partisan move made by every president after HW, but any challenges on the grounds of allocating funding is pretty open-and-shut.
If it makes it there. The president's ability to do this is so cut and dry that it might not go that high.
Isn't restricting education access counter-productive? I was under the impression that having a "skilled" workforce with a specialized skillset (relatively) that's locked down by lifetime a debt is the most ideal outcome for Finance Capital.
Loan forgiveness doesn't involve allocating money though, right? The money was already paid, so elimating any amount of debt should be doable by the exexcutive. Not totally sure, but i think this is the rationale for why it can be done by executive order
Yes, this is the legal argument for debt relief and the pause of payments. Essentially the Department of Education can just decide they're not going to collect the debt (per the President's order). They've been doing it temporarily for the past few years, there doesn't seem to be any reason they can't do it permanently.
Specifically, there is authority in the Higher Education Act (or maybe HEROES Act?) that gives the executive the authority to forgive student loan debt
It would be good and based for a Republican president to do it. Illegal and overreaching for Biden to do it. Just like everything else Edit: :amerikkka:
Chud news networks have been reporting that they think the supreme court is going to overturn the student debt cancellation.
Tell your chud parents to kick rocks.
I've mostly just been doing a mock-crying "Ohhhh noooo it's unconstitutional what are we gonna do??? Oh this is so bad!!"
trying to explain to my parents that they are ghoulish doesn't seem to work well, i think they're really averse to the idea of letting their kid influence their own opinions and beliefs
You stop talking with them. You have to train them through negative reinforcement and that negative is you denying them access to you
yea i dont think that'd work since i kinda need them as a security net since capitalism is a fuck lol :agony-deep:
Do you have personal student debt that this order will undo?
im not op, i was just talking about my parents being generally ghoulish lol
I don't live with them anymore, haven't for quite a while. They've always been pretty conservative, what are you gonna do
I think your parents are right with the "don't count your chickens" part, honestly. The ghouls will keep trying to prevent debt forgiveness until the last possible moment. I wouldn't count on it until you see a loan statement with a reduced outstanding debt.
I don't think even the chuds are insane enough to try to reinstate the debt after that point, though. Or rather, I think they might actually be that insane, but if they actually try it, people will burn their homes down.
From what i understand theres no steps. It's just a delete button.
has it actually gone through yet?
i thought it was just announced that it'll be happening some time in the futureIt hasn't, not in stone yet at least. Makes all the leftist indistinguishable from my lib sibling yas qweening whitehouse clapbacks even more concerning, frankly. There's a whole class of loans called FFEL which supposedly aren't even eligible for this shit that people are being told they need to reconsolidate to become eligible. It's a fucking mess.
Quit talking with your parents they sound like toxic pos.
I had the same reaction as your parents for different reasons. Its foolish to invest power in the Democratic party full stop precisely because we doubt they can even rally their own party to go along with this.
If you hold any sort of skepticism for the DCCC or the DNC then you should accept whatever W these ghouls do bring you, but avoid devoting any time or energy towards reelecting these people
Yeah I'm not gonna go campaign for them, but I was just concerned that this one good thing they did would get reversed somehow. But yeah I'm thinking it probably won't at this point
I’m sure the Supreme Court will try some shit along the lines of “nothing in constitution says this about paying off debts for education” or some shit
There is no standing for lawsuits though. Who is harmed by loan cancellation? Taxpayer?
Federal loans that are owed to private firms.
I don't exactly know how Navient/Sallie Mae/First Mark etc. make money, but presumably they'll make less money now
its all jokes, no one should do that because this country will collapse on its own anyway, just try to get by the best you can
