I assume this was aimed at me but no I did not let that shit slide as I already posted.
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I withdrew PPP the first round it was offered and the stipulations for forgiveness were stupid low. Know multiple colleagues who cleared six figures in PPP. The application was a breeze too, especially given the vast amount of paperwork required to be approved for and close on a similarly sized mortgage.
Iām glad at least some effort was made at clearing some student loan debt. Full stop, let that be known.
But for the life of me I donāt understand why weād do that and not even though the problem that got us here in the first place. Why forgive the debt and not do anything to address costs of tuition?
Iām not sure grown ass men should slap each other. If youāre gonna initiate violence in response to hateful speech then fucking initiate it.
Because addressing the cost of tuition probably requires an act of Congress that canāt be done through reconciliation.
Am I going to eat a Twitter ban if I find a spot for posting āblue lives splatterā?
Iām pretty ignorant about the mechanisms of govt tbh. So prez canāt just address that part via EO?
No, it almost certainly needs to tie student loans to a cap on tuition charged and that canāt be done without a law.
The current forgiveness relies on the HEROES Act of 2003 giving the power to the Education Department to give debt relief in time of crisis and treating the pandemic as a national emergency. Certainly, no one thought of applying the law to this sort of situation when it was first passed.
Arguably, someone with legal standing to challenge the debt forgiveness could argue that COVID is not a national emergency and a results-oriented SCOTUS could, I suppose, agree with that reasoning.
This suggests to me that part of the reason it may have taken so long to do something was trying to figure out how to narrowly tailor the form of the forgiveness to have a chance of passing legal scrutiny and that something much bigger was off the table because they felt it wouldnāt stand up in court.
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I know they can Calvinball it, but this seems like a real uphill climb. The ability to declare national emergencies is pretty well codified.
They could also argue that authorization under the HEROES Act āin connection with a war or other military operation or national emergencyā means āin connection with a war or other military operation or military national emergencyā and doesnāt apply to non-military emergencies.
Slapping down emergency COVID actions and slapping down expansive executive domestic policy actions without specific legislative text are both very much on brand for this Supreme Court.
Finding someone with standing and having the balls to bring the case is hard and what should help here fingers crossed, but I think if someone with standing can get the case to the right court (looking at you Texas) that thereās a decent chance of an injunction being granted to at least make this possible to unwind. Idk what happens at the Supreme Court. On the merits, with this court, Iād say 60-40 or better it gets struck down. Even with what we just saw with Roe, I dunno if theyād have the balls to unwind this one.
Wait. I though that SCOTUS ruled specifically that all legislation passed by congress is unconstitutional except for those passed in 2017 and 2018.
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Capping repayment at 5% of discretionary going forward IS doing something. They have essentially turned student loans into zero interest going forward. Its a huge step, it just isnt being touted in the news because its a bit confusing how it all works.
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It is actually a big fucking problem that they arenāt also capping tuition. (Or at least capping the amount of tuition a school is allowed to charge to a student getting these loans). They really need to do this. As was pointed out in one of these articles, this half-measure would be akin to Medicare offering unlimited reimbursement for procedures at whatever price thee providers of those procedures decide to charge without any negotiation. Of course that needs to be done by legislation and would et filibustered so lol this country. Without this step tuition prices are going to go to the absolute fucking moon over the next decade. Schools will have zero incentive not to start charging truly absurd amounts, like $100,000 a year, $200,000 a year, whatever.
Dems could just go hard with a message that college costs are getting out of control and we would love to fix it if and want your kids to be able to go to college but republicans are stopping it
Yeah, I was just thinking the same thing. Iāve been pouring money into my kids 529 over hte past several years thinking I would pay for their undergraduate educations, but now that seems like lighting money on fire. It also seems like I will never be able to pay for their undergraduate educations because by the time my 3 year old is college-ready itās going to cost like a half million dollars to send her to a 4 year school, maybe a million.
I would just make the kids take out the loans if they did this, and everyone else would too. Iād just gift them the debt service after graduation.
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Yeah, thatās what Iām thi8nking. Sucks Iāve already poured so much into a 529.
I was thinking maybe use that for private high school.