Is the Student Loan giveaway legal? (economy, district, best, illegal)

[redguard57]

Originally Posted by springfieldva

The individuals who would actually benefit from this are a relatively small fraction of the population. Whereas, the individuals who would be hurt by this is, well, everyone else.

I don't see who's hurt. We require too many degrees for jobs. We spent the last 50 years telling people that your choice is either college or poverty. Surely I got that drummed into me -- by my parents and grandparents, mostly.

If we don't fix the college cost problem, the shortages we'll have in degree-required jobs will become a crisis. Think teaching, nurses, police, etc... they are already seeing shortages and they will only accelerate if we don't make college affordable. That will hurt all of us worse than the psychological effect of some debt forgiveness.

I'm even seeing it now affect doctors.

We bailed out huge rich companies in 2008, we did it again during covid, giving enormous free money to businesses like Applebees. None of you made a damn peep.

But helping people just a bit who did what society overwhelmingly told them was a responsible life choice, and you condemn them.

[springfieldva]

Originally Posted by redguard57

I don't see who's hurt. We require too many degrees for jobs. We spent the last 50 years telling people that your choice is either college or poverty. Surely I got that drummed into me -- by my parents and grandparents, mostly.

If we don't fix the college cost problem, the shortages we'll have in degree-required jobs will become a crisis. Think teaching, nurses, police, etc... they are already seeing shortages and they will only accelerate if we don't make college affordable. That will hurt all of us worse than the psychological effect of some debt forgiveness.

I'm even seeing it now affect doctors.

We bailed out huge rich companies in 2008, we did it again during covid, giving enormous free money to businesses like Applebees. None of you made a damn peep.

But helping people just a bit who did what society overwhelmingly told them was a responsible life choice, and you condemn them.

This does nothing to make college more affordable for the kids in school now or the upcoming generations of students.

This only helps grown, college educated adults who took out student loans. If they can't afford to pay back 10K for their own student loan, what makes them think that anyone else can afford to pitch in to pay it off.

It's like shoplifters who think that stealing is a victimless crime. It isn't. It drives the price up for all of the paying customers.

[Mistermobile]

Originally Posted by moguldreamer

Regarding the legality, read this PDF:

https://www2.ed.gov/policy/gen/leg/f...ncellation.pdf

The document is about 4 or 5 pages long. It begins:




One thing to note on such legal opinions - they are called "opinions" for a reason. Two highly competent legal scholars might come to different conclusions given the same set of facts and findings of law.


NOTE: The above document is publicly available and is not subject to copyright.

FLIP FLOP. Biden is trying to buy votes by granting student loan forgiveness because there is a Covid emergency. Is that what it says?

[albert648]

Originally Posted by skeddy

I don't want any President, Republican or Democrat being able to make 500 billion dollar decisions without Congress approving it.

Frankly, forget Congress. They've been just as irresponsible with our money as the Executive Branch.

I don't want any President, of any stripe or color, being able to make 500 billion dollar decisions without having raised at least 550 billion dollars cash at bank first, solely and entirely from voluntary contributions. No proof of funds? No spending bill for you. If what you want to spend money on is generally popular, you should have no problem getting the people who are in favor of the spending to pony up the money for it.

[TexasLawyer2000]

Originally Posted by Mistermobile

FLIP FLOP. Biden is trying to buy votes by granting student loan forgiveness because there is a Covid emergency. Is that what it says?

It doesn't work as well as people seem to think. Trump tried to buy votes by sending out letters claiming he was responsible for stimulus checks and also by diverting funds to build a wall at the southern border under the claim of covid emergency. He didn't get the votes. This spend for votes thing doesn't work and costs the country a lot of money.

[TexasLawyer2000]

I guess we have our answer... yes, it's legal (for now).

[springfieldva]

Originally Posted by TexasLawyer2000

I guess we have our answer... yes, it's legal (for now).

Where are you getting that from?

[TexasLawyer2000]

Originally Posted by springfieldva

Where are you getting that from?

SCOTUS has declined to block it (most recently, Friday, November 4th).

[jtab4994]

Originally Posted by TexasLawyer2000

SCOTUS has declined to block it (most recently, Friday, November 4th).

The plaintiffs have an argument I can sympathize with. While pursuing a previously accepted path toward loan forgiveness, they would instead be stuck with a state tax bill for the Biden loan forgiveness. That tax bill would cause them harm. Most states that have an income tax, but not all, have said they will not tax the loan forgiveness.

https://nypost.com/2022/11/04/amy-co...loan-giveaway/

[TexasLawyer2000]

Originally Posted by jtab4994

The plaintiffs have an argument I can sympathize with. While pursuing a previously accepted path toward loan forgiveness, they would instead be stuck with a state tax bill for the Biden loan forgiveness. That tax bill would cause them harm. Most states that have an income tax, but not all, have said they will not tax the loan forgiveness.

https://nypost.com/2022/11/04/amy-co...loan-giveaway/

Did these states tax stimulus checks? This is a state issue.