Ahem.
“The fate of the plan will likely eventually end up in the Supreme Court.”
I think this is an easy knockdown by the Supreme Court. The executive branch does not have the authority to just forgive debts of wide swaths of the population, and invoking the HEROES act was clearly a big stretch.
I think the Biden admin will give up on it. It was a pre-election giveaway, and the election is over. Mission accomplished.
Cynical, but not far-fetched assessment. However, having the Republicans responsible for cancelling the student debt cancellation will be an arrow in Biden’s quiver for later use, IMHO.
Not a stretch at all.
“Higher Education Relief Opportunities for Students Act of 2003 - Authorizes the Secretary of Education to waive or modify any requirement or regulation applicable to the student financial assistance programs under title IV of the Higher Education Act of 1965 as deemed necessary with respect to an affected individual who: (1) is serving on active duty during a war or other military operation or national emergency; (2) is performing qualifying National Guard duty during a war, operation, or emergency; (3) resides or is employed in an area that is declared a disaster area by any Federal, State, or local official in connection with a national emergency; or (4) suffered direct economic hardship as a direct result of a war or other military operation or national emergency.”
Agreed. And while I personally have about $1500 on the line over whether or not the debt is cancelled, I’d be happy to pay it if it means that even more people come out to vote against Republicans in 2024.
Republicans are certainly poising themselves as the enemy of the people these days. Problem is, some people have also decided that a substantial portion of their fellow citizens are their enemies, so following the deprecated maxim of “The enemy of my enemy is my friend” rather than the more accurate one of “The enemy of me enemy is the enemy of my enemy, no more, no less”, they cozy up and think that the Republican party is their friend. They seem to be willing to accept grievous personal harm in order to inflict their pettiness upon others.
Really, the greatest victims of a Republican led government are the Republicans themselves, as they willingly sacrifice themselves and their families on the altar of authoritarianism.
Covid is no longer a national emergency. The President himself said the pandemic was over back in September. At least 11 Democratic Senators voted with the Republicans to declare that the “national emergency” is over.
So, are you claiming that when an emergency is over, all hardship that was caused by that emergency is also over?
I don’t know if it works that way. If the fire department puts out your house fire, the emergency is over. Does that mean you can just go ahead and move back in?
“**Higher Education Relief Opportunities for Students Act of 2003 - Authorizes the Secretary of Education to waive or modify any requirement or regulation applicable to the student financial assistance programs . . . as deemed necessary with respect to an affected individual who: . . . suffered direct economic hardship as a direct result of a . . . national emergency. ”
How on earth is your comment remotely relevant?
Please note the tense used in this section
In comparison to the tense used in these sections
No, but you don’t get to require your neighbors to pay for the restoration of your house.
Sure you do, if its part of a larger disaster.
Following is a summary of key federal disaster aid programs that can be made available as needed and warranted under President Donald J. Trump’s disaster declaration issued for the state of California.
Assistance for Affected Individuals and Families Can Include as Required:
- Rental payments for temporary housing for those whose homes are unlivable. Initial assistance may be provided for up to three months for homeowners and at least one month for renters. Assistance may be extended if requested after the initial period based on a review of individual applicant requirements. (Source: FEMA funded and administered.)
- Grants for home repairs and replacement of essential household items not covered by insurance to make damaged dwellings safe, sanitary and functional. (Source: FEMA funded and administered)
- Grants to replace personal property and help meet medical, dental, funeral, transportation and other serious disaster-related needs not covered by insurance or other federal, state and charitable aid programs. (Source: FEMA funded at 75 percent of total eligible costs; 25 percent funded by the state)
- Unemployment payments up to 26 weeks for workers who temporarily lost jobs because of the disaster and who do not qualify for state benefits, such as self-employed individuals. (Source: FEMA funded; state administered)
- Low-interest loans to cover residential losses not fully compensated by insurance. Loans available up to $200,000 for primary residence; $40,000 for personal property, including renter losses. Loans available up to $2 million for business property losses not fully compensated by insurance. (Source: U.S. Small Business Administration)
- Loans up to $2 million for small businesses, small agricultural cooperatives and most private, non-profit organizations of all sizes that have suffered disaster-related cash flow problems and need funds for working capital to recover from the disaster’s adverse economic impact. This loan in combination with a property loss loan cannot exceed a total of $2 million. (Source: U.S. Small Business Administration)
- Loans up to $500,000 for farmers, ranchers and aquaculture operators to cover production and property losses, excluding primary residence. (Source: Farm Service Agency, U.S. Dept. of Agriculture)
- Other relief programs: Crisis counseling for those traumatized by the disaster; income tax assistance for filing casualty losses; advisory assistance for legal, veterans’ benefits and social security matters.
Besides federal aid (which consists of taxes paid by both you and your neighbors) even private insurance depends on a pool of premiums paid from not only your good self, but also a lot of other people.
I gotta ask: were you raised on a deserted island by Amish wolves??
How does the loan forgiveness deal with the “direct economic hardship” aspect of the HEROES Act? Maybe you just need to confirm you suffered hardship when you apply?
That part of the statute seems like an issue since, as I understand it, the only real requirements were income-based.
I suffered an economic hardship from COVID. My business was closed for 2 months, and was reduced in income for a substantial amount of time afterwards.
I’m doing okay now, but that doesn’t mean that I wouldn’t be doing better were it not for the declared national emergency. I think that nearly everyone could make that statement. (Well, the latter half of it, there are many who are not doing okay now.)
Once again, from a personal financial standpoint, I don’t care one way or another. What I’ve got left to pay is relatively insignificant. OTOH, I do think that it’s better for the country if we get a bunch of young people out of debt and able to start their lives.
Wait a minute. Is that a typo? Your debt is a lousy 1500 bucks? You can’t cover fifteen hundred dollars? My twelve year old Grandson could spot you 1500 bucks. You need every other tax payer in the country to pay off your measly 1500 dollars? Please tell me you meant at least $15,000. Not that anyone owes you that either.
You may want to reread what you quoted.
They said they have 1500 on the line over whether it gets canceled or not. Who needs a government bailout for such a small amount? There are all these people moaning that their student loan debt is wrecking their lives. If ones life is in shambles over trivial amounts something is seriously wrong.
All these people who want hundreds of billions spent to pay loans they voluntarily entered in to. How many of them would agree to pay it off themselves and instead have the money spent remedying the homeless problem in this country?
I can only assume that in your haste to show your outrage, you didn’t bother to read the context that that was in? Specifically where I pointed out that it was pretty insignificant to me now, and so I don’t personally care if it is cancelled or not?
If so, then it may be a wise idea to check for the context surrounding a sentence before jumping to conclusions about it in the future, TYVM.
Now, ten years ago, when I was facing over 40k in debt and a much more dire personal financial situation, I would have felt very differently, which is why I understand where many people are coming from that are trying to start their lives while burdened by severe debt.
Apparently your twelve year old grandson has more money on hand than 56% of American adults.
One of many such articles: https://www.cnbc.com/2022/01/19/56percent-of-americans-cant-cover-a-1000-emergency-expense-with-savings.html