'The 87% of Americans without student
loans are no longer forced to pay for
the 13% who do': Republicans celebrate
SCOTUS axing Biden plan as a victory for
taxpayers - while Democrats call court 'corrupt'
Daily Mail (UK),
by
Morgan Phillips
Original Article
Posted By: Imright,
6/30/2023 12:29:31 PM
Republicans are celebrating the Supreme Court's overturning of President Biden's student loan plan as a 'victory' for taxpayers while Democrats are deeming the high court 'corrupt.'
The court ruled in a 6-3 decision that the scheme was unlawful.
The plan would have eradicated $10,000 in debt for borrowers earning less than $125,000 and up to $20,000 for those with Pell Grants. Estimates pegged the cost at over $400 billion.It was challenged by six Republican states and two borrowers who argued Biden should have sought approval from Congress for a plan using substantial taxpayer funds.
Reply 1 - Posted by:
Ida Lou Pino 6/30/2023 12:36:56 PM (No. 1502903)
But - - but - - but I WANTED to pay off their loans!
And now - - and now I can't. Those damn right-wing judges!
12 people like this.
Reply 2 - Posted by:
Birddog 6/30/2023 12:39:07 PM (No. 1502907)
THIS will be interesting...the credit reporting agencies have NOT been counting student debt in their calculations, will they now?
To what effect when suddenly thousands of peoples credit ratings plummet...what will the effect be on home loans and car sales?
Also background checks for Govt employment.
(I was recruited for a job with FEMA, took 26 classes online, was waiting on deployment when the 2nd/final background check was being done...my son had defaulted on his parents+ loan, $50k debt suddenly showed up on MY credit report. The Job offer was withdrawn...No Appeal)
13 people like this.
Reply 3 - Posted by:
EJKrausJr 6/30/2023 12:39:51 PM (No. 1502908)
Nevermore should a leftist be appointed to the Supreme Court. The 3 that dissented are true Deep Staters.
16 people like this.
Reply 4 - Posted by:
Chiritwo 6/30/2023 12:52:41 PM (No. 1502931)
Thank you!!!
12 people like this.
Reply 5 - Posted by:
SycamoreHills 6/30/2023 12:55:01 PM (No. 1502933)
Does this mean a return to the bad old days when student loans' use was restricted to paying for tuition, room and board rather than spring break trips, fraternity dues, and the other "necessities" of the current student life?
14 people like this.
Reply 6 - Posted by:
downnout 6/30/2023 1:02:23 PM (No. 1502940)
There is absolutely no rationale for Person A to pay off a loan taken out by Person B…unless Person A agrees to do so. I didn’t and I don’t want to listen to the whining from the little snowflakes.
24 people like this.
Reply 7 - Posted by:
Plex 6/30/2023 1:13:24 PM (No. 1502951)
The ruling says that the President does not have the authority! Congress has the authority and if Congress wants to forgive loans can pass a law doing so. Fat chance.
The left seems to ignore the separation of powers. It wants a dictator and if it keeps up its current behavior it will get one and it won't like it!!
12 people like this.
Reply 8 - Posted by:
snakeoil 6/30/2023 1:32:52 PM (No. 1502964)
Not to go off topic, but students wouldn't have to get these loans if college weren't so expensive. What makes college so expensive? They are top heavy with administrators. The course instructors usually aren't highly paid. It's the administrator. College presidents often make millions per year. Then there are about 7 Vice Presidents, and something called Provosts. They there are associates, assistants, food tasters, go fers, etc. And most have a Vice President and a Vice Provost for Diversity, Equity, etc. The best thing that could happen to higher education is to cut their budget and force them to pay for the essentials.
10 people like this.
Reply 9 - Posted by:
Skinnydip 6/30/2023 1:51:01 PM (No. 1502976)
If the education students receive is so valuable then why don’t the colleges “tote the note” themselves. I’ve never understood why the government had to guarantee the loans.
9 people like this.
Reply 10 - Posted by:
Krause 6/30/2023 2:04:33 PM (No. 1502982)
Just another false election promise by democrats.
6 people like this.
Reply 11 - Posted by:
DiegoDude 6/30/2023 2:12:01 PM (No. 1502987)
Paybacks a b@$ch. The Dems keep screwing with SCOTUS is coming back to haunt them.
4 people like this.
Reply 12 - Posted by:
MissGrits 6/30/2023 2:23:44 PM (No. 1502997)
Let those who send millions and millions of dollars in order to have influence in our educational system pay for the little snowflakes to get a degree… That would be those Muslim countries who want Islamic studies, the chicoms, etc.!
4 people like this.
Reply 13 - Posted by:
DVC 6/30/2023 2:45:02 PM (No. 1503006)
Pay your own debts, deadbeats.
11 people like this.
Reply 14 - Posted by:
wsdiego 6/30/2023 3:01:15 PM (No. 1503018)
Biden's illegal attempt to buy votes!
9 people like this.
Reply 15 - Posted by:
Mcscow sailor 6/30/2023 3:17:38 PM (No. 1503023)
Works out to $40 k more or less per borrower. Time for AOC to sell her TeslaS. The average debt is lower than the average price of a new car…should be, on the average, manageable.
3 people like this.
Reply 16 - Posted by:
Phantomll 6/30/2023 3:52:19 PM (No. 1503048)
A great week for SCOTUS - 3 for 3!
3 people like this.
Reply 17 - Posted by:
Ragman73 6/30/2023 4:07:07 PM (No. 1503059)
As #5 noted, these loans are going to a lot more than tuition, room and board, and books. The Funds should go DIRECTLY to the bursar"s office to pay the real college costs. The students don't need "walking around" money for frills - the best cell phone, a room full of electronics, spring break trips, booze, and pharmaceuticals. Work study employment, summer jobs, scholarships, and grants can make up a great deal of the difference. Many students today are entitled, over indulged, pampered and living beyond their means. When you sign for a student loan it needs to be paid back in full, just like a car loan or a mortgage. There is no "free lunch" in life.
2 people like this.
Reply 18 - Posted by:
Birddog 6/30/2023 4:20:58 PM (No. 1503071)
Part of the "Problem" is that the govt appointed itself sole underwriter, and then declared that the debts could NOT be discharged via Bankruptcy, could not/cannot be negotiated down during times of low interest, or negotiated payoff, and that the IRS could be used to collect them. Even to go into a payment plan they tack on 15% penalty and Interest to the initial loan amounts.
"Sold yer soul to the Company Stoooorrrrre"
The rule of the Street is "You Owe Me? I OWN you", Govt has decided to play the same game.
1 person likes this.
Reply 19 - Posted by:
Starboard_side 6/30/2023 5:18:36 PM (No. 1503104)
Unfortunately, these loans are more like a revolving credit card instead of a simple loan (like a car payment -- fixed amount each payment for X number of years until paid off).
Most only pay a portion of the principle and the amount continues to grow which results in adding many years to the loans.
I know this is NOT how my student loans were.
1 person likes this.
Reply 20 - Posted by:
MickTurn 6/30/2023 5:47:16 PM (No. 1503140)
Suck Eggs Lefties, you signed the LOAN, PAY UP.......NOW!
1 person likes this.
Reply 21 - Posted by:
mifla 7/1/2023 5:05:53 AM (No. 1503363)
Don't forget to thank Harry Reid. He opened the door to all three of Trump's SC picks.
0 people like this.
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