Does he have the authority to forgive student loans? It's complicated. The waiver authority in the Higher Education Act of 1965 does not allow the President to forgive federal student loans except as previously authorized by Congress. The President does not have the legal authority to forgive student loans through executive order. Only Congress has the power of the purse, and Congress has not yet passed legislation to provide broad student loan forgiveness. The President may be able to forgive student loans through the U.S. Department of Education’s existing regulatory authority, as previously authorized by Congress. The U.S. Secretary of Education can legally implement broad student loan forgiveness through a regulatory change to Income-Contingent Repayment (ICR). Pelosi first said he didn't. “People think that the president of the United States has the power for debt forgiveness,” Pelosi told reporters in July 2021. “He does not. He can postpone. He can delay. But he does not have that power.” “That has to be an act of Congress,” she continued. “And I don’t even like to call it forgiveness because that implies a transgression. It’s not to be forgiven, just freeing people from those obligations.” However, the Biden administration this week insisted that the commander in chief does have that power. Then she said he does. House Speaker Nancy Pelosi (D-Calif.) said Wednesday that she has no problem with President Biden citing the COVID-19 pandemic to cancel hundreds of billions of dollars in federal student loan debt. Isn't the pandemic pretty much over? “President Biden’s bold action is a strong step in Democrats’ fight to expand access to higher education and empower every American to reach fulfillment,” Pelosi said in a statement Wednesday, adding the move will help “more working families” meet their everyday needs “as they continued to recover from the challenges of the pandemic.” The debt is not erased, it's simply moved to .........guess who? You can bet your sweet bippy it won't be to Biden or Pelosi. “There’s no canceling or forgiveness. The debt is transferred to hardworking taxpayers, many of whom paid off their loans already or decided to pursue a different career and forgo college. This is just bad economic policy and I don’t support this forgiveness approach,” said Rep. French Hill (R-Ark.) Isn't this just a coincidency that he did this just before midterm elections? $300,000,000,000 ought to buy a lot of votes. Don't you think?
I forgot to say that he said that 12 years of college is not enough. I watched his speech again just to make sure I heard correctly. What in the name of all that's holy can't a person learn in 12 years? And another thing, I see people who are supposedly educated saying "Payed" instead of "Paid." Isn't that obsolete?
Sure is nice of him to help the rich while robbing the poor. So some well-off shmuck gets a free ride for liberal arts while the poor blue collars pick up his tab.
Presidents do not have the authority to do a lot of the things they've been doing in recent years, at least since Obama. It seems that when you can't change the Constitution or the law, you can just ignore them these days. Since most people look to the experts or the media to tell them whether there's anything wrong with this, and the experts are complicit, here we are.
Now they have slenced us so nobody can even complain. We just have to realize that all empires fall and mainly for the same reasons. Its out turn I guess.
Not yet. Reports of our demise have been greatly exaggerated. I remember people saying that we would never recover from Obama.
I have a grandniece who went to college and got a degree in Political Science. I suspect her degree won't be much in demand. She is working as a bartender so maybe she will have a career in politics. Like AOC.
Damned Federal Loan Programs has driven up the costs so that a normal human being cannot afford to go to college to become a well-rounded adult. This idea that it's quasi-vocational training for a white collar job is another intentional destruction of our aggregate intellect.
I would add Pell Grants, race-based student giveaways, and any other non-earned scholastic awards as well. The same is true of the medical industry, however. If no one had medical insurance, health costs would be far less.
Professors at UVA make $400,000. But it's not money well-earned...it's all the dollars that the Fed makes available being consumed. That's how these things work. All the available dollars get consumed. Then a chunk make their way back to the DNC. It's not unions driving it, although they (and consequently the Dems) benefit. Just one huge incestuous circle.
Somewhere I wrote IN-CORRECTLY that janitors made $100,000 year. When I went to get a link I couldn't find it so guess that was a bad rumor. Not sure.