Comment on It's great to see a politician that's progressive and Not a Millionaire.

• brandon@piefed.social ⁨2⁩ ⁨days⁩ ago

  The Biden administration eventually lost in court. A major campaign promise was to forgive $10k in student loan debt. Congress couldn’t get a bill for that through, so he tried to use an executive action to order the Department of Education to do it, but a number of (red) states fought it and won in the Supreme Court.

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  • atomicbocks@sh.itjust.works ⁨2⁩ ⁨days⁩ ago

    He also tried to restructure existing loan forgiveness programs, like the public service loan forgiveness program that I am in, to make them have shorter terms. This also lost in court eventually. My loans are still in forbearance due that that litigation, but only for a few more weeks.

    I still don’t understand why the paycheck loans could be forgiven but not student loans.

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    • wonderingwanderer@sopuli.xyz ⁨2⁩ ⁨days⁩ ago

      Because the paycheck loans were being abused by members of congress and wealthy business owners…

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    • anton@lemmy.blahaj.zone ⁨1⁩ ⁨day⁩ ago

      I still don’t understand why the paycheck loans could be forgiven but not student loans

      Let me try to steel man it (I don’t hold those opinions):
      You can reposes physical assets, but not the knowledge that it supposedly worth tens of thousands.
      If I was possible everyone would default the day after they leave collage.

      The first one is stupid because you can’t reposes an eaten meal and burned petrol.
      On the second isn’t realistic either, because not every American defaults after a medical emergency either, because they want to be credit worthy later on.

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  • Funkt4st1c@lemmy.world ⁨2⁩ ⁨days⁩ ago

    Mohela. Missouri argued theyd disproportionately lose out on profits

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    • onlyhalfminotaur@lemmy.world ⁨2⁩ ⁨days⁩ ago

      That case was so fucking dumb and proved the SCOTUS majority is completely partisan. Missouri had zero standing to sue. The loan forgiveness order was probably illegal but they didn’t even wait for a case that made sense.

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• mushroommunk@lemmy.today ⁨2⁩ ⁨days⁩ ago

  Another commenter explained how it was stopped, but he was only going to forgive some for people below a threshold. AOC and Sanders are trying to forgive all for everyone and make it free moving forward. AOC was very vocal about Biden not taking it far enough

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  • FudgyMcTubbs@lemmy.world ⁨2⁩ ⁨days⁩ ago

    She’s right – He didn’t take it far enough. By him saying he would forgive $10k for those earning less than blank, meant he believed he had the power to forgive student debt. With that power, he was like, “nah fuck most of 'em. Drown in your debt.” I’ve said it before and I’ll say it again – Biden was a huge disappointment.

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• pdxfed@lemmy.world ⁨2⁩ ⁨days⁩ ago

  Biden also was the one who made loan non-forgiveness his signature piece of legislation in the 2000s. Maybe realized the folly of his ways but his offset was a drop in the fucking ocean.

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