Thursday, April 11, 2024

7 More States Sue to Block ‘Most Generous Ever’ Student Loan Program; Biden, Harris Hit Swing States to Tout $146B in Student Loan Bailouts; Biden’s Student-Loan Plan Seeks to Slash Debt for 30 Million Americans

Pedro Ugarte/AFP via Getty Images
7 More States Sue to Block ‘Most Generous Ever’ Student Loan Program
‘Biden wants to use your tax dollars to buy votes because more and more young people are supporting President Trump,’ RNC Chair Michael Whatley said.
President Joe Biden faces a fresh lawsuit from a seven-state coalition challenging his “most generous ever” federal student loan repayment plan, under which millions of borrowers would have a monthly bill of $0.
In their complaint, filed on April 8 at a federal court in Missouri, the states argued that what the Biden administration calls the SAVE plan is another unlawful attempt to force Americans who incurred no college debt to shoulder the bill for those who did.
“Just last year, the [U.S.] Supreme Court struck down an attempt by the President to force teachers, truckers, and farmers to pay for the student loan debt of other Americans—to the enormous tune of $430 billion,” the complaint stated, noting that the high court’s 6-3 majority explicitly ruled that the president should not bypass Congress to implement a decision with such profound impact on the country’s economy.
“Undeterred, the President is at it again, even bragging that ’the Supreme Court blocked it. They blocked it. But that didn’t stop me,'” it added.
The lawsuit was spearheaded by Missouri, along with Arkansas, Florida, Georgia, North Dakota, Ohio, and Oklahoma. It comes just weeks after Kansas and 10 other Republican-led states filed a separate challenge to the same plan.
“With the stroke of his pen, Joe Biden is attempting to saddle working Missourians with a half trillion dollars in college debt,” Missouri Attorney General Andrew Bailey, a Republican, said in a statement on April 9. --->READ MORE HERE
Biden, Harris hit swing states to tout $146B in student loan bailouts:
President Biden and Vice President Kamala Harris toured swing states Monday to tout $146 billion in recent student loan forgiveness while dangling plans to write off up to another half-trillion in outstanding college debt — which Republicans slammed as “buying votes.”
Biden and Harris made stops in Wisconsin and Pennsylvania, respectively, to coincide with the announcement of their latest plan to administratively cancel up to $20,000 in accrued interest for more than 25 million debtors who went to college.
The new proposal could rival in scale Biden’s unsuccessful student debt forgiveness fiat that the Supreme Court struck down last year, which would have written off for about 40 million borrowers up to $10,000 in debt apiece, or twice that amount for lower-income students.
The new sprawling debt elimination, including four smaller proposals pushing recipients past 30 million, should take effect “early this fall” — just before Biden’s November rematch against former President Donald Trump — a Biden aide told reporters, though the plan in fact could be slowed by lawsuits.
“Starting this fall we plan to deliver up to $20,000 in interest relief for over 20 million borrowers and full forgiveness for millions more,” Biden, 81, said during his remarks in Madison, Wis.
Those eligible for up to $20,000 in write-offs would have to owe more than they originally borrowed to attend college.
Biden announced his prior unsuccessful blanket debt reduction about two months before the 2022 midterm elections in response to a pressure campaign from activists, despite prominent Democrats — including then-House Speaker Nancy Pelosi — saying he lacked the legal authority to do so.
Republicans took note of the new timetable and accused Biden of trying to overtake Trump by opening up the Treasury without congressional authorization.
“87% of Americans don’t have student loans. The Supreme Court rejected President Biden’s last student loan forgiveness scheme. Now Joe is trying a new runaround,” tweeted Rep. Alex Mooney (R-WV).”Buying votes always seems to come at a great cost to the responsible US taxpayer.” --->READ MORE HERE

+++++Biden’s Student-Loan Plan Seeks to Slash Debt for 30 Million Americans+++++

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