The Biden administration has altered the student loan forgiveness plan. Pray, they don’t alter it any further.
The Biden administration quietly issued an update to its student loan forgiveness plan on Thursday, drastically scaling back eligibility on the same day that six Republican-led states filed a lawsuit against President Joe Biden, claiming his student loan forgiveness plan is illegal.
There is some confusion about what the law might allow if anything. The Republicans say the deal is illegal. Biden Dems say that a provision of a 2003 law permits them to use the pandemic as a vehicle for student loan forgiveness.
White House officials have argued that Biden’s student loan forgiveness plan is legal under the Higher Education Relief Opportunities for Students Act of 2003 (HEROES Act), which grants the Department of Education the authority to cancel so much debt for so many people because of the COVID-19 pandemic.
New Hampshire is not one of the states challenging the move.
The states of Arkansas, Iowa, Kansas, Missouri, Nebraska, and South Carolina, in a lawsuit filed in federal court in Missouri, claimed that the move is illegal.
If you were not aware, the governor of Kansas is a Democrat who also opposed private business vaccine mandates and Biden’s OSHA mask mandate. That makes this a bipartisan rejection of the Biden mid-term vote-buying bailout plan, which they say is illegal.
The Biden administration itself concluded in a legal opinion (pdf) that any cancellation must be “structured to put loan recipients back into the financial position they would be in were it not for the national emergency” and limited only to the harm that has a relation to the borrower’s federal loans, “no matter how much [total] financial harm a borrower may have suffered because of a national emergency,” the suit states.
“The Biden Administration’s Mass Debt Cancellation does not even attempt to meet these requirements.
I think the Bidenistas know it’s illegal but don’t care. It is a calculated win-win for Dems, in their eyes. If it flies, they can buy “friends” and votes through loan forgiveness (and consolidation) at taxpayer expense. If it falls out of the sky, they can blame Republicans for burdening millions with excessive student loan debt (even if it is illegal).
And isn’t that the pot calling the kettle black? The Left has spent so much money that people not yet born will be paying taxes on the debt created by elected officials for whom they did not vote.
HT | Epoch Times
