Correct. The Executive has no power to change laws without the consent of the legislature. Unless we're talking about voting laws of course. There's some special provision in the Constitution for election laws...or so I'm told.Biden cancels $10,000 in federal student loan debt for most borrowers
President Joe Biden announced he will forgive $10,000 in federal student debt for most borrowers.www.cnbc.com
1. How does he have the power to do this? Under what law or Constitutional provision?
2. Isn't he just buying the votes of rich suburbanites (with taxpayer money) to the detriment of the working class?
Biden cancels $10,000 in federal student loan debt for most borrowers
President Joe Biden announced he will forgive $10,000 in federal student debt for most borrowers.
1. How does he have the power to do this? Under what law or Constitutional provision?
2. Isn't he just buying the votes of rich suburbanites (with taxpayer money) to the detriment of the working class?
I guess I don't understand how these loans work. Is it actually government money that was borrowed or is it federally backed money that can't be canceled but will have to be paid off by the fed gov with our tax dollars? So is canceled or is something that has to be paid off?Biden cancels $10,000 in federal student loan debt for most borrowers
President Joe Biden announced he will forgive $10,000 in federal student debt for most borrowers.
1. How does he have the power to do this? Under what law or Constitutional provision?
2. Isn't he just buying the votes of rich suburbanites (with taxpayer money) to the detriment of the working class?
Biden cancels $10,000 in federal student loan debt for most borrowers
President Joe Biden announced he will forgive $10,000 in federal student debt for most borrowers.
1. How does he have the power to do this? Under what law or Constitutional provision?
2. Isn't he just buying the votes of rich suburbanites (with taxpayer money) to the detriment of the working class?
Here's hoping it is challenged and the SCt strikes it down.
Or, I don't know, make people honor their commitments?
There's a lot of shitty stuff out there - even with good schools. Wash U Law by way of example was cooking their placement books. They would send recent grads to local firms and literally pay their internship/salary and count them as placed. 10k isn't shit to that world, but still....
I honestly don't know and am too lazy to look it up, but...would federally backed student loans have some kind of cap on the interest rate charged? Or are the federally backed ones just as predatory as anyone else?
Then sue the school.
www.savingforcollege.com
Biden cancels $10,000 in federal student loan debt for most borrowers
President Joe Biden announced he will forgive $10,000 in federal student debt for most borrowers.
1. How does he have the power to do this? Under what law or Constitutional provision?
2. Isn't he just buying the votes of rich suburbanites (with taxpayer money) to the detriment of the working class?
Kinda what I figured. So, we're really not hitting the problem area of truly predatory (as in high interest rate) student loans b/c, well, they're private.Historical Federal Student Interest Rates and Fees
The interest rates on federal student loans are among the lowest interest rates available to college students. Interest rates on Federal student loans reset annually on July 1, based on the last 10-year Treasury Note auction in May. Previously the interest rates were pegged to the 91-day T-Bill...
Many people tried that years ago against law schools for completely lying about their employment statistics. For example, saying 98% of our grads are employed 9 months after graduation with a starting salary averaging $100k with the real numbers being 40% employed and a $40k average salary.
They don't benefit you personally but they hurt you. your tax dollars will go to pay this off. a plumber who never took out any loans and instead of getting wasted for four years away at college worked and now has to contribute to subsidizing a portion of that kid's college. Right? That's what i was trying to ascertain w/ re to the gov canceling something (accounting) versus actually having to take tax payers monies to pay it off
I remember those lawsuits. I didn't follow up to see what happened. interesting
I work for a living, why can't I get the lower tax rates investors get? Some things in life are just mysteries.
Didn't you read that only 10K would be waived, and only if you met all conditions?
I'm using authoritarianism in the way it has been used to refer to Trump and DeSantis--one man usurping the democratic process to single-handedly enact disputed policy.
www.cbsnews.com
But someone has to pay it. Us. Just not the individual who contracted to pay it
Correct. The people who did not go to college have to pay for those who did, more than they were before.
I'm using authoritarianism in the way it has been used to refer to Trump and DeSantis--one man usurping the democratic process to single-handedly enact disputed policy.
He--single-handedly--added over $300 billion to our federal deficit (in just the first year!). That's really not relevant at all?
Forgiving up to $20,000 in student debt could cost the U.S. $519 billion
Most of the benefit of erasing college loans would go to households earning below $88,000, new analysis finds.
We should show similar outrage to the billionaires not paying their rightful share of taxes that would far exceed the $350 billion this maneuver creates.I'm using authoritarianism in the way it has been used to refer to Trump and DeSantis--one man usurping the democratic process to single-handedly enact disputed policy.
He--single-handedly--added over $300 billion to our federal deficit (in just the first year!). That's really not relevant at all?
Forgiving up to $20,000 in student debt could cost the U.S. $519 billion
Most of the benefit of erasing college loans would go to households earning below $88,000, new analysis finds.
If the president came in and through a regulation or Executive Order forgave $350 billion legitimately owed by billionares under an Act of Congress, you can be damned sure I'd be showing similar outrage.
Somebody said there may have been something buried in the Obamacare legislation about this. I haven’t looked at it though.Biden cancels $10,000 in federal student loan debt for most borrowers
President Joe Biden announced he will forgive $10,000 in federal student debt for most borrowers.
1. How does he have the power to do this? Under what law or Constitutional provision?
2. Isn't he just buying the votes of rich suburbanites (with taxpayer money) to the detriment of the working class?
Reform the tax code. But instead we just get bigger gov to hassle middle class and small businesses.
Elections have consequences. He is doing what he said he would do. This authoritarianism is allowed, that kind is not. I stand to benefit (I think, depending on details) and this is totally ridiculous as pointed out by several posters already, but if you voted for anyone other than Trump in the last election, this was the choice. The watered down green new deal was the choice. Joe did not run as a moderate.
You can always follow so many others down to the great state of florida. The FREE state of florida. no income tax. your house is your castle and not subject to court recovery. the reps have your back. if the feds come calling the reps are locked and loaded. cars still sound like cars. by god they pump gas right off the coast of siesta key. and it's your damn car. if it starts, drive it dammit! there's no state inspections. no emissions bullshit. if you've got a 70s hoopdie that won't pass inspection roll back the clock in florida and drive that bitch!
