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Biden persisted, and has failed yet again. He’s on record bragging that he can go against the law and provide taxpayer funded debt relief to student loan borrowers. Well, the 8th Circuit Court of Appeals just told him NO.
A federal appeals court blocked the implementation of the Biden administration’s student debt relief plan, which would have lowered monthly payments for millions of borrowers.
In a ruling Thursday, the 8th Circuit Court of Appeals granted a motion for an administrative stay filed by a group of Republican-led states seeking to invalidate the administration’s entire student loan forgiveness program. The court’s order prohibits the administration from implementing the parts of the SAVE plan that were not already blocked by lower court rulings.
The ruling comes the same day that the Biden administration announced another round of student loan forgiveness, this time totaling $1.2 billion in forgiveness for roughly 35,000 borrowers who are eligible for the Public Service Loan Forgiveness program.
What’s interesting about this is that earlier yesterday, the Biden Administration announced yet another round of student loan debt relief.
The Biden administration on Thursday said it is forgiving $1.2 billion in student debt for 35,000 borrowers who work in public service, ranging from teachers to firefighters. The announcement marks the latest round in government loan relief after the Supreme Court last year blocked President Joe Biden’s plan for broad-based college loan forgiveness.
With the latest student loan forgiveness, the Biden administration said it has waived $168.5 billion in debt for roughly 4.8 million Americans, according to a statement from the Department of Education. That represents about 1 in 10 student loan borrowers, it added.
Again, guess who pays for all this? We the taxpayers do.
It’s worth noting that the 8th Circuit had already blocked parts of Joe’s scheme, as had the U.S. Supreme Court. Yet Joe persists.
Keep in mind, this announcement of the latest round of student debt relief came on the same day that we find out Biden had to skedaddle back to Delaware to recover from Covid. Of course that was also just after his weird yelling speech to the NAACP and the train wreck interview with BET.
That interview was so bad. He couldn’t even remember Lloyd Austin’s name.
Yet we are supposed to believe he’s fully with his faculties to go ahead and sign yet another round of student loan relief? I don’t think so.
Yet, the Department of Education is now scrambling to find yet another work around.
In an email to CBS MoneyWatch, the Department of Education said it plans to “continue to aggressively defend the SAVE Plan.”
“We are assessing the impacts of this ruling and will be in touch directly with borrowers with any impacts that affect them,” a spokesperson said.
Look, debt of any kind is a burden. It’s one that can wear on a person for sure. We’ve all been there. But I do have to say, that everyone needs to be reminded that not one single person who signed those loan papers did so in ignorance of what they would be owing.
https://twitter.com/Bubblebathgirl/status/1814006556146475454
So now, the Biden Administration has to figure out another way to buy votes. And that’s the key. The Biden Administration doesn’t have a plan to actually SOLVE the problems this country faces. Taxes are a problem? Let’s raise more taxes! Crime is a problem? Demonize the police and let criminals off scot-free. Have debt? We’ll make taxpayers pay your bill! Parents concerned about their kids safety in schools? Sic the DOJ on them! Legal immigration is so passe’. Instead let’s just throw the doors wide open!
Have debt? Never fear, we’ll wipe the slate clean and make sure everyone else pays your bill. Vote for MEEEE!!
That, folks, is how the Biden Administration is rolling these days. Joe and crew have never had solutions. They just throw pandering ideas at the wall and hope the votes roll in.
Great News: The Biden Admin just announced an additional $1.2 billion in student debt forgiveness for 35,000 public service workers!
— Chuck Schumer (@SenSchumer) July 18, 2024
Our public servants work tirelessly to serve our communities.
I've been fighting for this, and we're going to keep working to #CancelStudentDebt.
Chuck’s X/tweet aged super well didn’t it??
Again, this is yet another policy that places the burden on we the taxpayer, not the borrower. If you want to reform the system, don’t penalize the taxpayer who didn’t agree or sign the loan. Reform the government student loan system itself. However, that’s probably asking too much of the government, so there’s that.
The Biden Administration fully overstepped on burdening taxpayers with paying off student loans we didn’t sign for. The 8th Circuit Court of Appeals handed them a lesson yesterday.
The problem is, Joe and his handlers won’t heed that lesson. Taxpayers and voters beware.
Feature Photo Credit: student debt u.s. capital via iStock, cropped and modified
Yeah-Me-Neither says: Every loan “forgiven” illegally should be reinstated. No, don’t charge interest or penalties for the period during which it was forgiven, but resume them ASAP.
Get back all the monies illegally paid to lenders. Give the lenders an incentive to go to the “students” and demand repayment.
Also, any loans that go into default should be handed over to the IRS for recovery. The IRS knows how to get money out of turnips, and blood out of stones.
draigh says: I can’t blame Biden for not remembering Lloyd Austin’s name. Nobody missed the guy when he went into the hospital, so why should Biden remember his name as well?
Craig Fellows says: True. Have you ever noticed that when Biden talks about others, he always calls them by first name to make it look like he is their buddy, their homie, their partner in government. This has backfired on him, as he can not remember half of their names anymore, and now he looks like a fool every time he tries to speak.
NTSOG says: Socialists love to spend other people’s money.
Cameron says: I have said it elsewhere but I have a better approach on this:
Instead of the taxpayer covering the loans, the colleges have to pay for them. They are the ones selling a defective product so they should own it. And yes, that means those multi billion dollar endowments are going to be paying off the loans.
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