On Wednesday, the Supreme Court <a href="https://www.nbcnews.com/politics/supreme-court/supreme-court-refuses-revive-bidens-latest-student-loan-debt-relief-pl-rcna167455" target="_blank" rel="noopener">rejected</a> the Biden-Harris administration’s request to get rid of an injunction from an appeals court that put a hold on the administration’s SAVE plan, which would exempt student loan borrowers’ income from their repayment obligation.
In mid-July, the 8th Circuit Court of Appeals put a hold on the Biden-Harris administration’s entire student loan forgiveness program after seven Republican-led states requested that parts of the plan not already on hold be stayed. The SAVE program is <a href="https://budgetmodel.wharton.upenn.edu/issues/2023/7/17/biden-income-driven-repayment-budget-update" target="_blank" rel="noopener">estimated</a> to cost $475 billion over a ten-year period.
Sen. Bill Cassidy (R-LA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, <a href="https://www.help.senate.gov/ranking/newsroom/press/ranking-member-cassidy-on-federal-court-blocking-bidens-student-loan-scheme-to-shift-559-billion-in-student-debt-onto-taxpayers-1" target="_blank" rel="noopener">said</a> in response to the appeals court decision, “Just like Biden’s other student loan schemes, this IDR policy does not ‘forgive’ debt. It transfers the burden of $559 billion in debt from those who willingly took it on to Americans who chose to not go to college or already sacrificed to pay off their loans.”
In May, President Biden transferred $7.7 billion more in student debt to taxpayers. “The Supreme Court last year <a href="https://www.nationalreview.com/news/supreme-court-strikes-down-bidens-student-loan-forgiveness-order/" target="_blank" rel="noopener" data-testid="dynamic-link">struck down</a> Biden’s $400 billion student-debt forgiveness plan under the HEROES Act. The president immediately announced <a href="https://www.nationalreview.com/news/not-done-fighting-biden-to-announce-new-actions-following-supreme-court-student-loan-forgiveness-defeat/" target="_blank" rel="noopener" data-testid="dynamic-link">his plan</a> to defy the highest court’s ruling by using the Higher Education Act to wipe out student loan debt,” National Review <a href="https://www.nationalreview.com/news/biden-administration-transfers-another-7-7-billion-in-student-debt-to-taxpayers/" target="_blank" rel="noopener">noted</a> in May.
<a href="https://www.amiracist.com/" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://www.amiracist.com/&amp;source=gmail&amp;ust=1724211156439000&amp;usg=AOvVaw2-L2DitSaIUj5wz8v0bgxx">Tickets for “Am I Racist?” are on sale NOW! Buy here for a theater near you.</a>
The University of Pennsylvania’s Wharton School <a href="https://budgetmodel.wharton.upenn.edu/issues/2023/7/17/biden-income-driven-repayment-budget-update" target="_blank" rel="noopener">wrote</a> in July 2023:
<blockquote>
About $200 billion of that cost will come from payment reduction for the $1.64 trillion in loans already outstanding in 2023. We estimate that about 53 percent of the current loan volume will move to SAVE after it goes active in July 2024, implying that about $869 billion will be subject to enhanced subsidies under SAVE. The remainder of the budget cost, or about $275 billion, comes from reduced payments for about $1.03 trillion in new loans that we estimate will be extended over the next 10 years. We estimate a take-up rate for future loans of 70 percent, implying that about $645 billion in future loans will be subsidized. About 6.57 percent of future borrowers (or 4.98 percent of total predicted loan volume) will never have to make any payments under SAVE.
</blockquote>

Kamala Harris

SCOTUS Rejects Biden-Harris Again On Student Loan Cancellation

Biden-Harris administration

Education

Student Loan Cancellation

Supreme Court

U.S.

A federal appeals court on Thursday temporarily shut down President Joe Biden’s nearly half-trillion dollar plan to cancel or lower student debt by transferring it to taxpayers.
The Eighth Circuit Court of Appeals on Thursday <a href="https://storage.courtlistener.com/recap/gov.uscourts.ca8.109302/gov.uscourts.ca8.109302.805045608.0.pdf" target="_blank" rel="noopener">paused</a> Biden&#8217;s Saving on a Valuable Education (SAVE) Plan in response to a petition from a group of red states led by Missouri Attorney General Andrew Bailey. The petitioners <a href="https://storage.courtlistener.com/recap/gov.uscourts.ca8.109302/gov.uscourts.ca8.109302.805041888.0.pdf">asked</a> the court to &#8220;enter an immediate administrative stay of Defendants’ actions to prevent millions of dollars in irreparable harm.&#8221;
&#8220;Just as this Court did last time Defendants tried to mass cancel nearly $500 billion in student loan debt,&#8221; the petition reads.
The states sued Biden over the SAVE Plan, which Bailey said would cost taxpayers $475 billion by transferring debt taken out by wealthy, elite college graduates to the working class.
The SAVE plan would lower student loan payments by up to 50% and forgive any unpaid balance after a certain number of years. 
In a separate lawsuit, a lower court in Kansas previously granted an injunction blocking some of the plan, and the Biden administration appealed to the 10th Circuit Court of Appeals, which set it aside. That case has since been appealed to the Supreme Court.
A Missouri court also blocked part of Biden’s plan, involving outright student loan forgiveness,  and the state appealed to the Eighth Circuit. The Eighth Circuit’s injunction appears to block implementation of the rule in its entirety during litigation, a sign that the court views Missouri’s case as strong.
By overreaching and ignoring Congress&#8217; authority over the federal purse, the Biden administration may have actually rolled back even more longstanding student loan forgiveness programs.
&#8220;Defendants chose to streamline previous plans under one &#8216;umbrella&#8217; regulation,&#8221; the appeal reads. &#8220;Defendants are thus on the horns of a dilemma: they must either present their current actions as a new plan that is unlawful because it did not go through notice and comment, or they must acknowledge that they are forgiving loans under regulatory provisions that the district court preliminarily enjoined.&#8221;
Missouri’s AG was joined by counterparts in Arkansas, Florida, North Dakota, and Ohio.
Biden has boasted that he forgave student debt despite the courts trying to stop him.
In recent days, the Department of Education sent the latest of multiple <a href="https://www.dailywire.com/news/biden-to-send-email-reminding-150k-student-loan-borrowers-he-got-them-off-the-hook" target="_blank" rel="noopener">emails to borrowers</a> that read like taxpayer-funded campaign messages, giving Biden credit for forgiving the loans while blaming Republicans for objecting. The injunction will deal a blow to efforts to use the program to curry votes prior to the election.
In June 2023, the Supreme Court struck down another of Biden’s student loan forgiveness efforts. Biden had sought to use a post-9/11 bill that gave the president powers to &#8220;waive or modify any statutory or regulatory provision applicable to the student financial assistance programs under title IV of the [Education Act] as the Secretary deems necessary in connection with a war or other military operation or national emergency.” The court said this law was not relevant to the present circumstance.
Nevertheless, Biden <a href="https://www.dailywire.com/news/biden-ignores-supreme-court-cancels-another-74000-student-loans" target="_blank" rel="noopener">pushed more student debt forgiveness</a> in January 2024.

Student Loan Borrowers Gather To Tell President Biden To Cancel Student Debt

Federal Court Blocks Biden Student Loan Bonanza

Joe Biden

Missouri

Student Loans

A staffer for a Democratic <a href="https://www.dailywire.com/topic/congress" target="_blank" rel="noopener">congresswoman</a> crowed on social media on Thursday about getting his student loans forgiven by the Biden administration, saying &#8220;elections matter,&#8221; but it turns out his boss previously opposed cancelling student loans.
Representative Marcy Kaptur&#8217;s (D-OH) communications director Ben Kamens <a href="https://x.com/BeeKamens/status/1803490997457789263" target="_blank" rel="noreferrer noopener">posted</a> a photo of the letter informing him that his student debt had been forgiven.
&#8220;Just got a call to let me know my student debt has been canceled,&#8221; Kamens wrote.
&#8220;This is why elections matter. Thanks @JoeBiden,&#8221; he added.
The letter showed a total of $8,250 in student loans from 2010 were forgiven Kamens.
&#8220;Congratulations! The Biden-Harris Administration has forgiven your federal student loan(s),&#8221; read the letter from Nelnet, the country&#8217;s largest servicer of student loans.
Back in 2022, Kaptur, an Ohio Democrat, <a href="https://sanduskyregister.com/news/404779/kaptur-criticizes-student-loan-debt-relief/" target="_blank" rel="noopener">criticized</a> the Biden administration&#8217;s plan to erase billions of dollars in student loan debt.
“What about the people who paid off their loans?” Kaptur said. “What about the people who didn’t rack up that level of debt? What about people who put college on hold? What about the systemic problems we have in the student loan program, where you walk into an admissions office at a college and they give you a credit card, and you get the money, and you can spend the money on a car or a vacation or whatever, and then the student doesn’t graduate. There’s a lot of issues.”
Kaptur also questioned whether the president has the legal authority to push forward with the massive loan forgiveness plan, saying President Biden likely &#8220;overreached his authority.&#8221;
<a href="https://onelink.to/dwapp" target="_blank" rel="noopener noreferrer" aria-describedby="sk-tooltip-9096" data-saferedirecturl="https://www.google.com/url?q=https://onelink.to/dwapp&amp;source=gmail&amp;ust=1712932862202000&amp;usg=AOvVaw0plT8RRdMy9XUpIhocnjQS">CLICK HERE TO GET THE DAILYWIRE+ APP</a>
“There was no consultation with Congress,&#8221; she said. &#8220;The last time I checked the Constitution, you can’t impact the bottom line of the federal treasury without some bill moving through Congress. I think the president probably overreached his authority on this one. My expectation is it will go to the courts. I’m not sure how that will happen.”
However, Kaptur later <a href="https://nypost.com/2024/06/20/us-news/aide-to-rep-marcy-kaptur-boasts-of-receiving-biden-student-loan-bailout-which-his-boss-opposed/" target="_blank" rel="noopener">voted</a> twice against House measures criticizing the administration&#8217;s student loan cancellation.
Meanwhile, the criticism online was swift on Thursday.
One X user <a href="https://x.com/Mar__G_3/status/1803557104847859802" target="_blank" rel="noopener">noted</a> that Kamens makes over $90,000 a year, <a href="https://www.legistorm.com/person/Benjamin_A_Kamens/361249.html" target="_blank" rel="noopener">according</a> to Legistorm, but still apparently expected taxpayers to pay his debt.
Others pointed out that Kamens had previously posted about holding Philadelphia Eagles season tickets and that the address on his loan forgiveness letter was for a house valued at over half a million dollars.
&#8220;You are jubilant at having foisted your student debt on other taxpayers. Meanwhile, a cursory spin through your profile in just recent times show multiple examples of extraneous expenditures that could have gone toward your years long debt. Nice,&#8221; one X user <a href="https://x.com/LisasFineLines/status/1803519366455296227" target="_blank" rel="noopener">wrote</a>.
Kamens switched his X account to private mode after his post garnered attention.
Last summer, the Supreme Court <a href="https://www.dailywire.com/news/supreme-court-delivers-defeat-to-biden-admin-on-student-loan-forgiveness">struck down</a> Biden’s $430 billion student debt relief policy that would have forgiven the student debt of about 40 million people. The high court ruled 6-3 that the HEROES Act of 2003 does not give Biden the authority to cancel billions in student loan debt.
Just weeks later, however, Biden announced the Education Department’s Saving on a Valuable Education (SAVE) Plan, which is <a href="https://nypost.com/2023/07/17/bidens-new-student-loan-forgiveness-to-cost-475-billion/" target="_blank" rel="noopener">expected</a> to cost taxpayers about $475 billion over the next decade.

Piggy bank with Debt Forgiveness graduation cap on cash

Dem Hill Staffer Celebrates Getting Biden Student Loan Cancellation, But His Boss Opposed It

Biden Administration

Congress

Democrat

Politics

President Joe Biden, facing poor polling numbers for a Democratic candidate with young voters, announced another student loan bailout program this week ahead of the 2024 presidential election.
His new plan comes after the U.S. Supreme Court blocked his attempt to this last year because it was illegal.
Biden&#8217;s new plan would take taxpayer money to wipe out the student loan debt of over 30 million borrowers, the White House <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/04/08/fact-sheet-president-biden-announces-new-plans-that-would-provide-relief-to-borrowers-disproportionately-burdened-by-student-loan-debt/">said</a>. The administration said that the actions were specifically designed to provide relief to black and Latino borrowers who attended community college and who are financially vulnerable because they took out debt but never had the chance to complete their degree.
The plan would provide relief to borrowers who owe more than they did at the start of repayment; borrowers who are otherwise eligible for loan forgiveness, but have not yet applied; borrowers who first entered repayment many years ago; borrowers who enrolled in low-financial-value programs; and borrowers experiencing hardship paying back their loans.
&#8220;Today, too many Americans, especially young people, are saddled with unsustainable debts in exchange for a college degree,&#8221; Biden said from an event in Wisconsin. &#8220;The ability for working and middle class folks to repay their student loans has become so burdensome that a lot can&#8217;t repay it for even decades after being in school.&#8221;
&#8220;Even when they work hard and pay their student loans, their debt increases, not diminishes,&#8221; he said. &#8220;Too many people feel the strain and stress wondering if they can get married, have their first child, start a family because even if they get by, they still have this crushing, crushing debt, and it&#8217;s not just a drag on them.&#8221;
Biden claimed that people couldn&#8217;t buy homes because they had to repay their student loans when most people can&#8217;t afford homes because of high interests that were sparked by the inflation that his American Rescue Plan caused.
&#8220;Tens of millions of people&#8217;s debt was literally about to get canceled, but then some of my Republican friends and elected officials and special interests sued us and the Supreme Court blocked us, but that didn&#8217;t&#8211;well, that didn&#8217;t stop us,&#8221; he said. &#8220;No, I mean it sincerely. We continue to find alternative paths to reduce student debt payment that are not challenging.&#8221;
WATCH:
<iframe loading="lazy" title="Watch: President Biden announces new plans to provide student debt relief for millions | MSNBC" width="500" height="281" src="https://www.youtube.com/embed/oUilCiW5Yus?start=423&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

President Biden Speaks In Las Vegas On Lowering Costs For Americans

Biden Again Tries To Win Over Young Voters With New Student Loan Bailout

Some student loan borrowers are refusing to make payments in protest, hoping they can force the Biden administration to cancel all student loan debt.
According to an Intelligent.com <a href="https://www.intelligent.com/1-in-10-borrowers-who-havent-resumed-student-loan-payments-are-boycotting/" target="_blank" rel="noopener">survey</a> of 1,000 federal student loan borrowers, about 25% <a href="https://nypost.com/2024/01/17/news/some-student-loan-borrowers-refusing-to-pay-out-of-protest/" target="_blank" rel="noopener">said</a> they had not made any payments, and 9% of those who had not paid at all said they were not paying to pressure the government into canceling their debt.
According to the survey, about 44% of those boycotting their payments said they believe their protest will result in the government canceling at least some federal student loan debt, the survey found.
About 28% said they think the boycott is &#8220;likely&#8221; to succeed in getting the government to cancel all student loan debt. As many as 86% said they think it is &#8220;very&#8221; or &#8220;somewhat likely&#8221; that the boycott will bring attention to the student loan issue.
The pandemic pause on student loan payments expired in October after more than three years.
Close to nine million people missed their first payment, the Department of Education <a href="https://www.dailywire.com/news/nearly-9-million-student-loan-borrowers-missed-first-payment-after-pause#" target="_blank" rel="noopener">said</a> last month. That means about 40% of the 22 million people who had student loan payments due in October still had not made a payment by well into November.
For comparison, less than 26% of borrowers missed their payment in October 2019, before the pandemic pause went into effect in March 2020 in the thick of the COVID pandemic.
<a href="https://onelink.to/dwapp" target="_blank" rel="noopener noreferrer" aria-describedby="sk-tooltip-9096" data-saferedirecturl="https://www.google.com/url?q=https://onelink.to/dwapp&amp;source=gmail&amp;ust=1705604838822000&amp;usg=AOvVaw2_j2KMpwVRLCzwAoGaYKL5">CLICK HERE TO GET THE DAILYWIRE+ APP</a>
In June, the Supreme Court <a href="https://www.dailywire.com/news/supreme-court-delivers-defeat-to-biden-admin-on-student-loan-forgiveness" target="_blank" rel="noopener">struck down</a> President Biden’s massive $430 billion student debt relief plan that would have forgiven 40 million people’s loans. After the court’s decision, Biden <a href="https://www.foxbusiness.com/economy/biden-administration-forgives-39-billion-student-loan-debt-more-than-800000-borrowers?intcmp=tw_fnc" target="_blank" rel="noopener">said</a> he would “stop at nothing to find other ways to deliver relief to hard-working middle-class families.”
Biden has still managed to forgive up to $116 billion in student loans for more than 3.4 million people, the administration <a href="https://www.dailywire.com/news/biden-administration-forgives-another-72-million-in-loans-for-students-cheated-by-one-school" target="_blank" rel="noopener">said</a> in August.
Leftist lawmakers and activists have long called for broad student debt relief, and for years have urged the Biden administration to grant it. Critics argue that forgiving student loans is unfair to those who sacrificed to pay off their loans, especially since taxpayers ultimately pay for any government-funded debt relief.
About 69% of the borrowers who had not made a payment after the pause ended said they could not afford to do so, the Intelligent.com survey found. About 18% of borrowers who had not started making payments again said they planned to wait until September, which is when the more severe consequences for missing payments kick in.
For the next few months, the Biden administration has an “on-ramp” program to protect borrowers from the “harshest consequences” of missed payments such as delinquency, default, and mandatory collections.

On The Second Anniversary Of The Student Loan Payment Pause Activists Project A Message Celebrating The Pause And Asking Secretary Cardona To Cancel Student Debt

Some Student Loan Borrowers ‘Boycotting’ Payments To Force Government To Cancel Debt

Some Student Loan Borrowers 'Boycotting' Payments To Force Government To Cancel Debt

American Universities

Biden

College

Students

Close to nine million people missed the first <a href="https://www.dailywire.com/topic/student-loans" target="_blank" rel="noopener">student loan</a> payment they were supposed to make after the pandemic pause ended this fall, the Department of Education said Friday.
That amounts to about 40% of the 22 million people who had student loan payments due in October. The nearly nine million borrowers had not made their payments by well into November.
For comparison, less than 26% of borrowers missed their payment in October 2019, before the pandemic pause went into effect.
The payment pause began in March 2020 in the thick of the COVID pandemic. It ended in October after more than three years.
More than 28 million borrowers are supposed to be resuming payments, the department <a href="https://blog.ed.gov/2023/12/a-first-look-at-student-loan-repayment-after-the-payment-pause/" target="_blank" rel="noopener">said</a> in a release that took a &#8220;first look&#8221; at repayment data after the pause.
&#8220;Some are confused or overwhelmed about their options. We want to make sure borrowers know that our top priority is to support student loan borrowers as they return to repayment,&#8221; the Department of Education said.
For the next year, the Biden administration has an &#8220;on-ramp&#8221; program to protect borrowers from the &#8220;harshest consequences&#8221; of missed payments such as delinquency, default, and mandatory collections.
In June, the Supreme Court <a href="https://www.dailywire.com/news/supreme-court-delivers-defeat-to-biden-admin-on-student-loan-forgiveness" target="_blank" rel="noopener">struck down</a> President Biden’s massive $430 billion student debt relief plan that would have forgiven 40 million people’s loans.
<a href="https://onelink.to/dwapp" target="_blank" rel="noopener noreferrer" aria-describedby="sk-tooltip-9096" data-saferedirecturl="https://www.google.com/url?q=https://onelink.to/dwapp&amp;source=gmail&amp;ust=1700760801843000&amp;usg=AOvVaw2PQrVSrJfhxNb4LcARqniG">CLICK HERE TO GET THE DAILYWIRE+ APP</a>
After the court’s decision, Biden <a href="https://www.foxbusiness.com/economy/biden-administration-forgives-39-billion-student-loan-debt-more-than-800000-borrowers?intcmp=tw_fnc" target="_blank" rel="noopener">said</a> he would “stop at nothing to find other ways to deliver relief to hard-working middle-class families.”
In an email to student loan holders, the administration even <a href="https://www.dailywire.com/news/scotus-got-it-wrong-biden-administration-tells-student-borrowers-in-email" target="_blank" rel="noopener">said</a> the Supreme Court “got it wrong” on student debt.
Biden has still managed to forgive up to $116 billion in student loans for more than 3.4 million people, the administration <a href="https://www.dailywire.com/news/biden-administration-forgives-another-72-million-in-loans-for-students-cheated-by-one-school" target="_blank" rel="noopener">said</a> in August.
Another move the administration has taken is creating the Saving on a Valuable Education (SAVE) plan, which cuts monthly payments to $0 for millions of low-income borrowers.
On Friday, the Education Department said that more than 5.5 million borrowers are already enrolled in the SAVE Plan, including 2.9 million who do not have to make any payments.
Michael Burry, known for being among the first investors to predict the subprime mortgage crisis, called the lower repayment numbers a &#8220;red flag.&#8221;
&#8220;An overlooked warning of economic stress?&#8221; Burry <a href="https://twitter.com/burrytracker/status/1736819502808281105?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1736819502808281105%7Ctwgr%5E102b49834b0dd35b015b7f101a01b8ad21fa47ca%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fhotair.com%2Ftree-hugging-sister%2F2023%2F12%2F18%2Fbaby-you-can-pay-my-bills-40-of-student-loans-borrowers-miss-that-first-payment-n599953" target="_blank" rel="noopener">posted</a> Monday on X.
Leftist lawmakers and activists have long called for broad student debt relief, and for years have urged the Biden administration to grant it. Critics argue that forgiving student loans is unfair to those who sacrificed to pay off their loans, especially since taxpayers ultimately pay for any government-funded debt relief.

Student Loan Borrowers And Advocates Gather For The People’s Rally To Cancel Student Debt During The Supreme Court Hearings On Student Debt Relief

Nearly 9 Million Student Loan Borrowers Missed First Payment After Pause

Over a dozen Congressional Republicans introduced a measure on Tuesday to repeal the <a href="https://www.dailywire.com/topic/biden-administration" target="_blank" rel="noopener">Biden administration&#8217;s</a> latest student loan forgiveness efforts that lawmakers argue would transfer over $500 billion of debt onto taxpayers.
After the U.S. Supreme Court struck down President Joe Biden&#8217;s massive $430 billion student debt relief plan in June, the administration unveiled an income-driven repayment (IDR) plan that allows borrowers to repay their debt based on income and family size rather than the loan balance itself. After ten years of payments, those with less than $12,000 would have the rest forgiven.
&#8220;Once again, Biden&#8217;s newest student loan scheme only shifts the burden from those who chose to take out loans to those who decided not to go to college, paid their way, or already responsibly paid off their loans,&#8221; Sen. Bill Cassidy (R-LA), the ranking Republican member on the Senate Committee for Health, Education, Labor and Pensions (HELP), said in a <a href="https://www.risch.senate.gov/public/index.cfm/pressreleases?ID=E350292B-CFB3-4C2D-B677-FE890BAB35C9" target="_blank" rel="noopener">news release</a>.
Cassidy, along with 16 Republican colleagues in both chambers of Congress, <a href="https://www.help.senate.gov/imo/media/doc/idr_one_pager.pdf" target="_blank" rel="noopener">introduced</a> a Congressional Review Act (CRA) resolution to overturn the &#8220;reckless&#8221; <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2023/08/22/fact-sheet-the-biden-harris-administration-launches-the-save-plan-the-most-affordable-student-loan-repayment-plan-ever-to-lower-monthly-payments-for-millions-of-borrowers/" target="_blank" rel="noopener">Saving on a Valuable Education (SAVE) plan</a> that would relieve the principal amount on primarily bachelor&#8217;s degree student loans — costing taxpayers as much as $559 billion.
The lawmakers said that under the plan, 91% of new student debt would be eligible for reduced 
payments and eventual transfer of $0.50 on every $1 borrowed to taxpayers.
&#8220;Our resolution protects the 87% of Americans who don&#8217;t have student debt and will be forced to shoulder the burden of the President&#8217;s irresponsible and unfair policy,&#8221; he added.
According to the Penn Wharton Budget Model, the IDR rule would disperse billions of dollars annually to community college students expecting to have their debt relieved, which lawmakers said would turn the federal student loan financing system into a &#8220;poorly targeted, taxpayer-funded grant program.&#8221;
Reps. Lisa McClain (R-MI) and Virginia Foxx (R-NC) called the Biden administration&#8217;s student loan plan a &#8220;scam&#8221; and the costliest regulation in U.S. history.
<a href="https://onelink.to/dwapp">CLICK HERE TO GET THE DAILY WIRE APP</a>
&#8220;The only difference between President Biden and a snake oil salesman is a title,&#8221; Foxx and McClain said in a <a href="https://edworkforce.house.gov/news/documentsingle.aspx?DocumentID=409498#:~:text=Lisa%20McClain%20(R%2DMI),Education%20(SAVE)%E2%80%9D%20plan." target="_blank" rel="noopener">statement</a>. &#8220;Biden&#8217;s administration knows what it&#8217;s doing is illegal, but it&#8217;s pushing forward anyway, promoting its SAVE scheme as a solution to America&#8217;s broken student loan system. In reality, the SAVE scheme is a desperate effort to curry favor and buy votes ahead of the next election.&#8221;
Congressional Republicans and Democrats reportedly have criticized the president&#8217;s student loan relief efforts. GOP lawmakers said such plans overlook underlying issues that have led to the skyrocketing cost of college and the increasing debt students take on.
It&#8217;s unclear if Majority Leader Sen. Chuck Schumer (D-NY) would bring the CRA to the floor for a vote, considering he <a href="https://www.democrats.senate.gov/newsroom/press-releases/majority-leader-schumer-floor-remarks-on-opposing-republicans-resolution-to-overturn-president-bidens-student-loan-cancellation-program" target="_blank" rel="noopener">opposed</a> Republicans&#8217; &#8220;cruel&#8221; attempt to shut down Biden&#8217;s student loan forgiveness program before the nation&#8217;s highest court overruled it.
The Biden administration has so far forgiven approximately $116 billion to more than 3.4 million people.
After the Supreme Court blocked the president&#8217;s initial student debt relief plan, Biden said he would &#8220;stop at nothing to find other ways to deliver relief to hard-working middle-class families.&#8221;
Last week, officials <a href="https://www.dailywire.com/news/biden-administration-forgives-another-72-million-in-loans-for-students-cheated-by-one-school" target="_blank" rel="noopener">canceled</a> $72 million in student loans for about 2,300 student borrowers who attended Ashford University, an online for-profit school based in San Diego that the University of Arizona has since acquired.

US President Joe Biden Supreme Court’s decision on the Administration’s student debt relief program

GOP Lawmakers Push Back On Latest Biden Admin Student Loan Forgiveness Effort

The Biden administration canceled another $72 million in student loans this week, saying thousands of students were &#8220;cheated&#8221; by one California school.
About 2,300 student borrowers who attended Ashford University, an online for-profit school based in San Diego that has since been acquired by the University of Arizona, will have their debt wiped away, the Department of Education <a href="https://www.ed.gov/news/press-releases/biden-harris-administration-approves-72-million-borrower-defense-discharges-over-2300-borrowers-who-attended-ashford-university" target="_blank" rel="noopener">announced</a> in a statement on Wednesday.
This latest batch of debt relief comes after the Supreme Court in June <a href="https://www.dailywire.com/news/supreme-court-delivers-defeat-to-biden-admin-on-student-loan-forgiveness" target="_blank" rel="noopener">struck down</a> President Biden’s massive $430 billion student debt relief plan that would have forgiven 40 million people&#8217;s loans.
This week&#8217;s decision brings the Biden administration&#8217;s total student debt forgiven up to $116 billion for more than 3.4 million people, the administration said.
Wednesday&#8217;s $72 million in loan forgiveness is <a href="https://www.washingtonexaminer.com/policy/education/biden-forgives-72-million-more-student-loan-debt" target="_blank" rel="noopener">the result</a> of the Department of Education&#8217;s review of a 2017 lawsuit the California Department of Justice brought against Ashford University. California claimed the school had misled students by lying about tuition costs and employment potential while also using aggressive recruiting methods.
Ashford students had <a href="https://www.businessinsider.com/student-loan-forgiveness-borrower-defense-debt-relief-california-biden-education-2023-8" target="_blank" rel="noopener">filed</a> borrower defense claims alleging they were defrauded by their school. This type of claim can result in loan forgiveness if approved.
A judge ruled at the time that Ashford University made 1.2 million misrepresentations to students between 2009 and 2020 and imposed a civil penalty of $22.3 million. The school is currently appealing the ruling.
The court&#8217;s decision stated that the school “created a high-pressure admissions department whose north star was enrollment numbers” and that “admissions counselors would cross a ‘gray line’ ethically or ‘do things they wouldn’t normally do’ to boost numbers to keep their jobs.”
“As the California Department of Justice proved in court, Ashford relied extensively on high-pressure and deceptive recruiting tactics to lure students,” Under Secretary of Education James Kvaal said in Wednesday&#8217;s statement. “Today we are protecting the students who were cheated by Ashford, and we will also hold the perpetrators accountable, protect taxpayers, and deter future wrongdoing.”
&#8220;What Ashford University did to its students was unconscionable and illegal,&#8221; California Attorney General Rob Bonta said. &#8220;I want to thank the Biden-Harris Administration for changing the lives of thousands of former Ashford students today. They have lived a nightmare for too long.&#8221;
Since the Supreme Court&#8217;s decision forcing Biden to scrap his $430 billion student loan forgiveness plan, the president has looked for other ways to get borrowers relief.
After the court’s decision, Biden <a href="https://www.foxbusiness.com/economy/biden-administration-forgives-39-billion-student-loan-debt-more-than-800000-borrowers?intcmp=tw_fnc" target="_blank" rel="noopener">said</a> he would “stop at nothing to find other ways to deliver relief to hard-working middle-class families.”
In an email to student loan holders, the administration even <a href="https://www.dailywire.com/news/scotus-got-it-wrong-biden-administration-tells-student-borrowers-in-email" target="_blank" rel="noopener">said</a> the Supreme Court “got it wrong” on student debt.
Last month, the administration <a href="https://www.dailywire.com/news/scotus-got-it-wrong-biden-administration-tells-student-borrowers-in-email" target="_blank" rel="noopener">outlined</a> several debt relief actions it said it would take “immediately” instead of Biden&#8217;s nixed plan.
One of the actions is the Saving on a Valuable Education (SAVE) plan, which will cut monthly payments to $0 for millions of low-income borrowers.
Another move is ensuring borrowers are protected from the “worst consequences” of late or partial payments, such as a hit to their credit score when the student loan payment pause ends this fall.

President Biden Speaks During National Small Business Week

Biden Administration Forgives Another $72 Million In Loans For Students ‘Cheated’ By One School

Biden Administration Forgives Another $72 Million In Loans For Students 'Cheated' By One School

The latest version of President <a href="https://www.dailywire.com/topic/joe-biden" target="_blank" rel="noopener">Joe Biden</a>’s student debt bailout, scaled back after its defeat in the <a href="https://www.dailywire.com/topic/supreme-court" target="_blank" rel="noopener">Supreme Court</a>, is again facing legal challenges.
Biden’s new plan involves forgiving the federal student loans of 800,000 borrowers worth roughly $39 billion. Two think tanks challenged it in a lawsuit filed on Friday, according to <a href="https://www.foxbusiness.com/personal-finance/think-tanks-file-suit-block-biden-administrations-plan-cancel-39b-student-loans" target="_blank" rel="noopener">Fox Business</a>.
New Civil Liberties Alliance filed the legal challenge last week in Michigan on behalf of the Mackinac Center for Public Policy and the Cato Institute. The lawsuit argues that the Department of Education is overstepping its authority with the forgiveness plan and asks the judge to rule it illegal.
The lawsuit is “a desperate attempt from right wing special interests to keep hundreds of thousands of borrowers in debt,” the Education Department said in a statement, according to the <a href="https://www.bostonherald.com/2023/08/06/groups-sue-to-block-bidens-second-try-on-student-loans/" target="_blank" rel="noopener">Associated Press</a>. “We are not going to back down or give an inch when it comes to defending working families.”
Biden’s original student debt forgiveness plan called for relieving up to $20,000 worth of federal debt for an estimated 43 million borrowers. The administration faced a couple of legal challenges, and it was ultimately <a href="https://www.scotusblog.com/2023/06/supreme-court-strikes-down-biden-student-loan-forgiveness-program/" target="_blank" rel="noopener">thwarted</a> after several states argued it would illegally relieve loans that they had agreed to service, costing the states up to tens of millions of dollars every year.
The Supreme Court ruled the plan unconstitutional on June 30, knocking down Biden’s attempt at fulfilling a campaign promise that had always appeared to be in doubt.
<a class="c-link c-link--focus-visible" href="https://onelink.to/dwapp" target="_blank" rel="noopener noreferrer" data-stringify-link="https://onelink.to/dwapp" data-sk="tooltip_parent">CLICK HERE TO GET THE DAILY WIRE APP</a>
Roughly two weeks later, on July 14, the administration rolled out its next, scaled-back version.
“For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness,” Education Secretary Miguel Cardona said in a <a href="https://www.ed.gov/news/press-releases/biden-harris-administration-provide-804000-borrowers-39-billion-automatic-loan-forgiveness-result-fixes-income-driven-repayment-plans" target="_blank" rel="noopener">statement</a> at the time. “Today, the Biden-Harris Administration is taking another historic step to right these wrongs and announcing $39 billion in debt relief for another 804,000 borrowers. By fixing past administrative failures, we are ensuring everyone gets the forgiveness they deserve, just as we have done for public servants, students who were cheated by their colleges, and borrowers with permanent disabilities, including veterans. This Administration will not stop fighting to level the playing field in higher education.”

Miguel Cardona

Biden’s Latest Student Debt Bailout Plan Faces Legal Challenge From Think Tanks

Debt Forgiveness

Department of Education

Executive

Michigan

Washington D.C.

The Biden administration said the Supreme Court &#8220;got it wrong&#8221; on student debt forgiveness in a recent email to student loan holders.
The Education Department&#8217;s Federal Student Aid office sent a <a href="https://mirror.mail.studentaid.gov/nl/jsp/m.jsp?c=%40t2gxE%2Bfh6iZHBEaBU5w%2FGYoOBPWMjGwsLqqKw%2Bwj7jo%3D" target="_blank" rel="noopener">letter</a> to Americans who still owe student loans, assuring them that the administration would keep fighting to forgive their debt.
&#8220;We believe the Supreme Court got it wrong,&#8221; read the email, which was signed by Education Secretary Miguel Cardona.
&#8220;While we disagree with the Court’s decision, our Administration will not stop fighting to provide debt relief to borrowers. We will use every tool at our disposal to do so,&#8221; Cardona wrote.
The email explained that the Supreme Court&#8217;s decision means the Biden administration cannot move forward with its student debt forgiveness plan.
Last month, the Supreme Court <a href="https://www.dailywire.com/news/supreme-court-delivers-defeat-to-biden-admin-on-student-loan-forgiveness">struck down</a> President Biden&#8217;s $430 billion student debt relief policy that would have forgiven the student debt of about 40 million people. The high court ruled 6-3 that the HEROES Act of 2003 does not give Biden the authority to cancel billions in student loan debt.
After the court’s decision, Biden <a href="https://www.foxbusiness.com/economy/biden-administration-forgives-39-billion-student-loan-debt-more-than-800000-borrowers?intcmp=tw_fnc">said</a> he would “stop at nothing to find other ways to deliver relief to hard-working middle-class families.”
The Education Department had already approved applications for more than 16 million borrowers, the department said.
&#8220;President Biden and I recognize how critical student debt relief would have been for tens of millions of Americans and their families,&#8221; the email said.
The administration outlined three debt relief actions it is taking “immediately” instead of the massive debt forgiveness plan.
First, the administration is working on a long-term plan to forgive student loans using “negotiated rulemaking,” a long process involving the Education Department and a negotiating committee that could take years — and could be interrupted by a new president getting elected.
Second, the administration announced the Saving on a Valuable Education (SAVE) plan, which will cut monthly payments to $0 for millions of low-income borrowers starting later this summer. The cut-off is $32,800 for a single person and $67,500 for a borrower in a family of four. All other borrowers will save at least $1000 a year under the SAVE plan, and the SAVE plan will also stop “runaway interest,” the administration said.
Third, the Education Department will ensure borrowers are protected from the “worst consequences” of late or partial payments, such as a hit to their credit score when the student loan payment pause ends this fall.
<a class="c-link c-link--focus-visible" href="https://onelink.to/dwapp" target="_blank" rel="noopener noreferrer" data-stringify-link="https://onelink.to/dwapp" data-sk="tooltip_parent" aria-describedby="sk-tooltip-3058">CLICK HERE TO GET THE DAILY WIRE APP</a>
The Biden administration made yet another move on debt forgiveness last week.
The administration <a href="https://www.dailywire.com/news/biden-administration-forgives-39-billion-in-student-debt" target="_blank" rel="noopener">announced</a> it would forgive $39 billion in student debt for about 804,000 borrowers. That debt relief is the result of changes to the student loan system’s income-driven repayment programs. The programs were built to forgive student debt after borrowers have been making payments for at least 20 or 25 years, depending on their loan. However, few borrowers have actually gotten their loans forgiven under that system.
In total, the Biden administration has <a href="https://www.dailywire.com/news/biden-administration-forgives-39-billion-in-student-debt">forgiven</a> more than $116.6 billion in student loans for more than 3.4 million borrowers so far, the Education Department said.
Leftist lawmakers and activists have long called for broad student debt relief and for years have urged the Biden administration to grant it. Critics argue that forgiving student loans is unfair to those who sacrificed to pay off their loans, especially since taxpayers ultimately pay for any government-funded debt relief.

TOPSHOT-US-politics-government-pandemic-Covid-19

SCOTUS ‘Got It Wrong,’ Biden Administration Tells Student Borrowers In Email

SCOTUS 'Got It Wrong,' Biden Administration Tells Student Borrowers In Email

SCOTUS

The Biden administration on Friday announced it will forgive $39 billion in student debt for about 804,000 borrowers.
The debt relief is the result of changes to the student loan system&#8217;s income-driven repayment programs. The programs were built to forgive student debt after borrowers have been making payments for at least 20 or 25 years, depending on their loan. However, few borrowers have actually gotten their loans forgiven under that system.
&#8220;These fixes are part of the Department’s commitment to address historical failures in the administration of the Federal student loan program,&#8221; the Education Department <a href="https://www.ed.gov/news/press-releases/biden-harris-administration-provide-804000-borrowers-39-billion-automatic-loan-forgiveness-result-fixes-income-driven-repayment-plans#:~:text=In%20total%2C%20the%20Biden%2DHarris,more%20than%203.4%20million%20borrowers." target="_blank" rel="noopener">said</a> Friday in a press release.
Leftist lawmakers and activists have long called for broad student debt relief and have urged the Biden administration for years to grant it.
Critics argue that granting student debt relief is unfair to those who sacrificed to pay off their loans, especially since taxpayers ultimately pay for any government-funded debt relief.
In total, the Biden administration has now forgiven more than $116.6 billion in student loans for more than 3.4 million borrowers, the Education Department said. The Biden administration was generous in their interpretation of who is eligible for the student debt relief under the new changes and counted certain people who paused their payments as well as some who had made partial or late payments.
The Education Department&#8217;s plan to make changes to the system in order to forgive certain people&#8217;s student debt was <a href="https://www.politico.com/news/2023/07/14/biden-administration-student-debt-relief-00106366" target="_blank" rel="noopener">announced</a> in April of last year. The department plans to notify people soon whether they are eligible to have their loans forgiven under the changes.
“For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness,” Education Secretary Miguel Cardona said in a statement.
<a href="https://onelink.to/dwapp" target="_blank" rel="noopener noreferrer" aria-describedby="sk-tooltip-9096" data-saferedirecturl="https://www.google.com/url?q=https://onelink.to/dwapp&amp;source=gmail&amp;ust=1689444467876000&amp;usg=AOvVaw08161kjhyLt-i31uD1nD7l">CLICK HERE TO GET THE DAILYWIRE+ APP</a>
“By fixing past administrative failures, we are ensuring everyone gets the forgiveness they deserve, just as we have done for public servants, students who were cheated by their colleges, and borrowers with permanent disabilities, including veterans. This Administration will not stop fighting to level the playing field in higher education,” Cardona said.
The move comes just weeks after the Supreme Court struck down Biden&#8217;s $430 billion student debt relief plan, which would have forgiven the student debt of about 37 million people. The high court voted 6-3 that the COVID-era HEROES Act does not give Biden the authority to cancel billions in student loan debt.
“Six States sued, arguing that the HEROES Act does not authorize the loan cancellation plan. We agree,” Chief Justice John Roberts <a href="https://www.dailywire.com/news/supreme-court-delivers-defeat-to-biden-admin-on-student-loan-forgiveness" target="_blank" rel="noopener">wrote</a> for the majority.
After the court&#8217;s decision, Biden <a href="https://www.foxbusiness.com/economy/biden-administration-forgives-39-billion-student-loan-debt-more-than-800000-borrowers?intcmp=tw_fnc" target="_blank" rel="noopener">said</a> he will &#8220;stop at nothing to find other ways to deliver relief to hard-working middle-class families.&#8221;
The student debt relief announced Friday is separate from Biden&#8217;s debt relief plan that was struck down by the court.
Vice President Kamala Harris said Friday in a statement that she and Biden &#8220;will not stop there.&#8221;
&#8220;Our administration will continue to fight to make sure Americans can access high-quality postsecondary education without taking on the burden of unmanageable student loan debt,&#8221; Harris <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2023/07/14/statement-from-vice-president-kamala-harris-on-additional-student-loan-forgiveness/" target="_blank" rel="noopener">said</a>.

Biden Administration Forgives $39 Billion In Student Debt

Roughly a third of Americans with student loans spent money they would not have normally spent because they were “confident” it would be forgiven under President Joe Biden, according to a <a href="https://www.intelligent.com/1-in-3-federal-student-loan-borrowers-spent-money-they-thought-they-wouldnt-have-to-pay-back/" target="_blank" rel="noopener">new poll</a>. 
The poll by Intelligent.com surveyed 977 people who would have qualified for at least $10,000 of debt relief under Biden’s student loan forgiveness plan, which was struck down by the Supreme Court last month. Of those, one in three said they spent “extra money” because they were assuming forgiveness, with many spending that money on things like vacations, retail items, and even alcohol, drugs, and gambling. 
“The Supreme Court decision is a cold shower for those who had their hopes pinned on a $10,000 relief,” James Allen, who founded personal finance website Bullpin.com, told Intelligent. “It’s like waiting for a tax refund only to find out the IRS made a mistake.” 
The poll found that of the borrowers who spent extra with the hope of the debt being wiped clean, 31% spent between $2,501-5,000, 27% spent between $1,000-2,500, 17% spent between $5,001-$7,500, 9% spent between $7,501-$10,000, and 5% spent more than $10,000. Just 11% spent less than $1,000, according to the poll. 
As for what they were spending that money on, the poll found that most respondents who said they spent extra cash did so on retail items, at 44%. The second most common expense was paying off other debts, which 37% of respondents said they did. Other expenses include home and auto payments, childcare, and down payments on vehicles and homes. 
About 20% of respondents said they spent that “extra money” on vacations, the poll found, while 8% used it for alcohol or drugs, and 7% used it for gambling. 
Over half of borrowers now say they don’t feel prepared once student loan repayment starts back up in October, with 35% saying they’re “very unprepared” and 23% saying they’re “somewhat unprepared.” Over a quarter of respondents also claimed they might “refuse to pay” the $10,000 that would have been forgiven under the president’s plan. 
Late last month, the Supreme Court <a href="https://www.dailywire.com/news/supreme-court-delivers-defeat-to-biden-admin-on-student-loan-forgiveness" target="_blank" rel="noopener">struck down</a> Biden’s loan forgiveness plan in a 6-3 decision, saying, “The Secretary asserts that the HEROES Act grants him the authority to cancel $430 billion of student loan principal. It does not. We hold today that the Act allows the Secretary to ‘waive or modify’ existing statutory or regulatory provisions applicable to financial assistance programs under the Education Act, not to rewrite that statute from the ground up.”
According to a White House <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2023/01/27/fact-sheet-biden-harris-administration-releases-new-data-showing-26-million-people-in-all-50-states-applied-or-were-automatically-eligible-for-one-time-student-debt-relief/#:~:text=In%20the%20less%20than%20four,be%20deemed%20eligible%20for%20relief." target="_blank" rel="noopener">fact sheet</a> from August, 26 million Americans had applied or were eligible automatically for the debt relief, which applied to people who make less than $125,000 or couples who make less than $250,000. Up to $20,000 would have been forgiven for Americans who received Pell Grants. The Congressional Budget Office <a href="https://www.politico.com/news/2022/09/26/biden-student-debt-relief-00058923#:~:text=The%20CBO%20analysis%20examined%20how,would%20be%20about%20%24400%20billion." target="_blank" rel="noopener">estimated</a> the plan had a price tag of roughly $400 billion.

President Biden

A Third Of Student Debt Holders Spent ‘Extra Money’ They Thought Would Be Wiped Clean: Poll

Menu