Biden Overrides Supreme Court on Student Debt Forgiveness

The president’s unilateral bid to buy support went ahead, ignoring a Supreme Court ruling on eliminating billions in student debt.

Bolstering the cause of Marxism and bolstering a force of zero-accountability voters ahead of the 2022 midterm elections, President Joe Biden had promised beyond his powers to wipe the slate clean of millions of student loan borrowers. Now, after a June Supreme Court decision held that no such authority existed for the executive, $127 billion remained marked for deletion as his administration sought alternative legal avenues to advance its agenda to include more debt.

According to a Wall Street Journal report, “Since taking office in 2021, the Biden administration has been willing to write off loans for about 30 percent of the total expected cost of its stalled massive write-off plan.”

“Not all of the $127 billion in relief has been fully processed by the Education Department and loan servicers, creating confusion for borrowers who now have to figure out if they still have outstanding student loan debt,” the Journal . it continued. “This issue has become more pressing in recent weeks as payments and interest accrual resume after a pandemic-era freeze that lasted more than three years.”

In early October, the US Department of Education had announced An additional $9 billion in “student debt relief” as its current “approved” write-offs covered 3.6 million borrowers. This wave of relief included borrowers in public service loan forgiveness programs, adjustments to income-based repayment plans, and forgiveness for people with total or permanent disabilities.

A new regulatory plan was presented on Monday announced to continue looking for legal ways to avoid the Supreme Court decision, starting several months of negotiations. The drafted plan sought to cancel the debt of four groups of borrowers that included: those with federal student loan debt that exceeded the original amount borrowed; loans where repayment began more than 25 years ago; “unreasonable debt burdens” caused by vocational programs that offered “insufficient income” or from “institutions with unacceptably high student loan delinquency rates; and anyone eligible for loan forgiveness programs for whom they would not have otherwise tendered.

“President Biden and I are committed to helping borrowers who have been failed by our nation’s broken and unaffordable student loan system,” U.S. Education Secretary Miguel Cardona said in the latest press release. “These draft proposals would build on the historic $127 billion in loan forgiveness that the Biden-Harris administration has already approved for nearly 3.6 million borrowers. We are fighting to ensure that student debt does not hinder opportunity or prevent borrowers from realizing the benefits of their higher education.”

The marked amount is well shy of the original projected debt of nearly $400 billion that the Biden administration had sought to unilaterally wipe out.

Regarding the new regulatory proposals, negotiators from “16 affected constituencies” are scheduled to meet with the Department of Education during a session on November 6 and 7, where public comments will also be heard during a maximum of one hour each day.

“Through this process, the Department will continue to refine the regulatory text before the third session on December 11 and 12,” the statement details.

Staff writer

A native of Brooklyn, NY, Kevin Haggerty is a graduate of Hunter College, where he studied Cultural Anthropology and Geography. An avid reader and seeker of truth, he currently resides in Texas with his wife and dog, and when he’s not researching current events and their impacts, you’ll find him spending time with friends and family or working on his next novel ·the.

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