Biden doesn't want to fight for 50,000 student loan relief. It's too hard

I hear you.

I'm in a precarious position since the pandemic I've taken a new position which pays more and purchased a home.

But it's a catch 22 because I now make more and they'll therefore require I pay more monthly for my student loans so it eats away at any gains I've made.

And obviously now with a mortgage and needed updates/repairs to my home it can be even worse.

For me I'm not trying to get up and go to work everyday only to hand over most of my earnings to a student loan servicer while I'm living like I'm on welfare :smh:

You can do it because I did it. And with the reform that Education Dept. put into place, your payments will be much less than if you started when I started paying back.....

The 5% of AGI is the key. I had to get a part time job because I bought a crib and had a car note....some CC Debt, but I was also given them 10% of my income....
 
Bro I've had a long road. My dream as well...

I have 8 classes left on my bachelor's degree, Political Science, GSU (Georgia State University)

GPA is low for law school. They don't care to hear your story about whatever you've persevered through. But I always do well on standardized tests. Betting on myself to get in.

I'm going to apply to midwest schools like Wisconsin cause they would like to increase their diversity (at least before the ruling).

Gonna try Georgia State University Law and as a last resort, John Marshall here in Atlanta. If I go that low I'll do a year and transfer to a higher school to complete the degree.

I will find a way or make one. Learned that from Clark Atlanta even though I attended MC.

Why do you want to be a lawyer?
 
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TOP Line is most important..

Good looking, I'm going to look this over thoroughly.
 
You can do it because I did it. And with the reform that Education Dept. put into place, your payments will be much less than if you started when I started paying back.....

The 5% of AGI is the key. I had to get a part time job because I bought a crib and had a car note....some CC Debt, but I was also given them 10% of my income....

Oh no doubt, I've got this.

I'm the son of two high school dropouts, raised on welfare in the projects during the crack era and worked full time to obtain this degree and get where I am now.

I'll find a way, as we all will.

Hell, in a couple of years you'll probably be representing everyone in this thread in a class action lawsuit against the student loan companies :lol:

His reelection depends on this very issue.

Definitely, which I'm glad about but to be honest it's sort of fucked up.

I'm no apologist for any politician but he and his administration have been doing there part on this and this outcome isn't on them IMO.

But politics doesn't work like that so people will turn on him and blame him of something isn't done which is fucked up.
 
Oh no doubt, I've got this.

I'm the son of two high school dropouts, raised on welfare in the projects during the crack era and worked full time to obtain this degree and get where I am now.

I'll find a way, as we all will.

Hell, in a couple of years you'll probably be representing everyone in this thread in a class action lawsuit against the student loan companies :lol:



Definitely, which I'm glad about but to be honest it's sort of fucked up.

I'm no apologist for any politician but he and his administration have been doing there part on this and this outcome isn't on them IMO.

But politics doesn't work like that so people will turn on him and blame him of something isn't done which is fucked up.
:lol: :lol: :lol: :lol:


I'm no apologist for any politician but he and his administration have been doing there part on this and this outcome isn't on them IMO.

But politics doesn't work like that so people will turn on him and blame him of something isn't done which is fucked up.

100% FACTS!
 
Yeah like I said I've always been more excited about this and no interest rates than the 20k since I still would owe a significant amount after that.

Right. And I mentioned this before, but if you were making payments before Covid, you had 3.5 years of no payments.

If my calculations are correct, if you were paying $800 a month, that is 800 X 41 months = $32,800.

I mean it's still a win win. Yeah not what we all wanted but you still got something...

And in this same scenario if you still have to make payments, it's $400 and not the previous $800.....
 
Right. And I mentioned this before, but if you were making payments before Covid, you had 3.5 years of no payments.

If my calculations are correct, if you were paying $800 a month, that is 800 X 41 months = $32,800.

I mean it's still a win win. Yeah not what we all wanted but you still got something...

And in this same scenario if you still have to make payments, it's $400 and not the previous $800.....

No doubt.

It's all been a blessing.

The thing is that the more this stays on peoples radar unresolved it becomes more of a talking point which is dangerous, especially if a Republican (specifically Trump or DeSantis), were to take the next election.

They would not only walk back any changes they'd also raise rates to appease their base.

This next elections are vital.

And let's be honest considering the age of some of the Supreme Court justices there's a high possibility that the 2024 presidential winner will be appointing 1 or 2 replacements.
 
Here's how each Supreme Court justice ruled in the student loans opinion
From CNN staff

In a stinging defeat for President Joe Biden, the Supreme Court blocked the administration’s student loan forgiveness plan Friday, rejecting a program aimed at delivering up to $20,000 of relief to millions of borrowers struggling with outstanding debt.

The decision was 6-3 with Chief Justice John Roberts writing for the conservative majority.

Here's how each justice ruled:
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This Supreme Court is unbalance like a motherfucker!!....Straight GOP BS!!!...:smh:
 
Right. And I mentioned this before, but if you were making payments before Covid, you had 3.5 years of no payments.

If my calculations are correct, if you were paying $800 a month, that is 800 X 41 months = $32,800.

I mean it's still a win win. Yeah not what we all wanted but you still got something...

And in this same scenario if you still have to make payments, it's $400 and not the previous $800.....
Mine is a little less then half that and if 5% discretionary also takes rent into account (I don't remember them asking before when they calculated my shit), I think it will further half my current payment. That would def be a game changer like you said.
 
The Republican, just lost all of generation Z in a good portion of the millennials. This shit some type away is going to hunt down big time next year. You see what the abortion thing to do it to them last midterm. I don’t care how you feel about Democrats…The Republicans are fucking evil.
 
The Republican, just lost all of generation Z in a good portion of the millennials. This shit some type away is going to hunt down big time next year. You see what the abortion thing to do it to them last midterm. I don’t care how you feel about Democrats…The Republicans are fucking evil.
Right.. and it's self-serving as fuck.

I can't imagine who their base is in the future, besides MAYBE their direct lineage? But even they are bound to be impacted by the decisions made by these folks and the Boomers they are trying to help live comfortably cuz they know they won't be around to suffer the consequences.

They're making decisions based the world they came up in, but the rules and numbers are vastly different for our generations. Whether it's college tuition costs, or housing costs (or black folk either not having, or being jacked out of the same benefits back in the day), they love to romanticize shit and act like it's the same playing field. They're dead wrong.
 
Biden going to address the nation at 3:30 EST
Yep. Republicans are fucking evil. That $20,000 or $10,000 that could have went into peoples pockets could have went right back into the economy. Like I said earlier, Republicans are going to pay the price for this shenanigan.
 
He should do as Elizabeth Warren said years ago? Biden knew dam well this was going to happen.
 
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Who should do as Elizabeth Warren said years ago? Biden knew dam well this was going to happen.
That doesn’t matter right now because Biden did this when Democrats had control over the house Republicans just got the courts involved because they are selfish ass holes. Republicans has lost a majority of the millennials generation Z and independents. Republicans are now starting to fuck with common Folks.
 



4000-01-U DEPARTMENT OF EDUCATION 34 CFR Chapter VI [Docket ID ED-2023-OPE-0123] Negotiated Rulemaking Committee; Public Hearing AGENCY: Office of Postsecondary Education, Department of Education. ACTION: Intent to establish a negotiated rulemaking committee. SUMMARY: We announce our intention to establish a negotiated rulemaking committee to prepare proposed regulations for the Federal Student Aid programs authorized under title IV of the Higher Education Act of 1965, as amended (HEA). The committee will include representatives of organizations or groups with interests that are significantly affected by the subject matter of the proposed regulations. We also announce one public hearing at which interested parties may comment on the topic suggested by the Department and may suggest additional topics that we should consider for action by the negotiating committee. 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Telephone: (202) 987-0750. Email: vanessa.gomez@ed.gov. If you are deaf, hard of hearing, or have a speech disability and wish to access telecommunications relay services, please dial 7-1-1. SUPPLEMENTARY INFORMATION: Note: The official version of this document is the document published in the Federal Register 4 Section 492 of the HEA requires that, before publishing any proposed regulations to implement programs authorized under title IV of the HEA, the Secretary must obtain public involvement in the development of the proposed regulations. After obtaining advice and recommendations from the public, the Secretary conducts negotiated rulemaking to develop the proposed regulations. We announce our intent to develop proposed title IV regulations by following the negotiated rulemaking procedures in section 492 of the HEA. We intend to select negotiators from nominees of the organizations and groups that represent the interests significantly affected by the proposed regulations. 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There appears to be a chance that this can still happen if the Democrats pick up the house a 2024 and have a decent sent it so generation Z and millennials have to go out and vote in huge numbers.
 
The Buck Stops With Biden on Student Debt Cancellation
Debt Collective
Debt Collective

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The Supreme Court just violated the constitution by striking down the current and totally legal student debt relief plan. As Justice Kagan wrote of this disgusting act of overreach in her dissent: “In every respect, the Court today exceeds its proper, limited role in our Nation’s governance.”

The case today focused on a specific legal authority called the HEROES Act that authorizes the President to cancel student debts during national emergencies like a pandemic. Fortunately, President Biden still has other authorities he can use to cancel student debt. He must use them. But he cannot make the same mistakes as he did last time, or we will end up with the exact same results. Canceling student debt under the HEROES Act was 100% legal. As Justice Kagan said in oral arguments, the law authorizing Biden’s cancellation plan is crystal clear. “Congress doesn’t get much clearer than that. We deal with congressional statutes every day that are really confusing. This one is not.”

The fatal flaw in Biden’s execution was means-testing relief — which required an application. Worse still, the Biden administration did not have the application ready to go the day cancellation was announced. They took a whopping 52 days and spent $100 million on what ended up being a glorified google form. This gave far-right, dark-money groups ample time to file several meritless lawsuits in front of lawless Trump judges, and ultimately the partisan and corrupt Supreme Court.

Biden could have fought for student debtors, but what is clear is that he only reluctantly canceled student debt and did so in a half-hearted way. The cynical read is that he always wanted cancellation to fail and deliberately sabotaged it.

Once again, there are other perfectly legal ways to cancel student debt. But how these legal tools are used matters. Biden can use them in a way that shows he is really fighting for us, or he can do so in a half-hearted way that sets all of us up for another catastrophic failure.

The most cynical thing Biden could do that would be a clear and obvious sign he is trying to stab student debtors in the back would be to open what is called a “notice and comment” period as a part of an extended rule making. It’s not necessary here to get into the technicalities of what all this means, but only to say that this is the path we are worried Biden might take because it is designed to fail. If Biden takes this path, and then campaigns that he is “fighting for student debtors,’’ don’t believe him. The technical term for this approach is “malarkey.”

The second thing to look for is whether they have learned their lesson or repeat the same mistake with the application. Biden needs to ditch the application and cancel the debt automatically.

If he announces a notice and comment and rule making and keeps the application, then we can say with certainty that this was all a scam, that Biden is bending over backwards to make sure student debt cancellation fails, and will try to gaslight voters into blaming the Republicans when it fails. We’re already seeing signs that White House staff and conservative Democrats are circling the wagons to protect Biden and try to pin the blame on Republicans and the Supreme Court. They think student debtors are stupid. The buck stops with Biden. Cancellation is easy and must be automatic.

Cancellation should have been a layup. It still can be. Biden needs to fight to win the rebound. All it takes is a signature.

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