Victoria Stuart 🇨🇦 🏳️‍⚧️Jun 30, 2023

Defeat for Biden: U.S. Supreme Court rejects plan to cancel $400B in student loans
6-3 decision favors 6 conservative-leaning states
https://www.cbc.ca/news/world/supreme-court-student-loans-1.6894002

SCOTUS 2023-06-30 blocked Biden's plan to cancel $430 billion US student loan debt, a move that had could benefit up to 43 million Americans

The justices ruled against Biden in a 6-3 decision favoring six conservative-leaning states that objected to the policy
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#SCOTUS #StudentDebt #StudentLoans #education #conservatism #USSupremeCourt

Defeat for Biden as U.S. Supreme Court rejects plan to cancel $400B in student loans | CBC News

The U.S Supreme Court handed President Joe Biden a painful defeat on Friday, blocking his plan to cancel $430 billion in student loan debt — a move that had been intended to benefit up to 43 million Americans and fulfil a campaign promise.

CBC
Show threadVictoria Stuart 🇨🇦 🏳️‍⚧️Jul 14, 2023

... Addendae

Education Dept. Cancels $39 Billion in Student Debt for 800,000 Borrowers
1-time credits wipe out loans, fixing mistakes made by loan servicers when collecting payments under income-driven repayment programs
https://www.nytimes.com/2023/07/14/business/student-loan-forgiveness.html

800,000 people are getting student debt relief. Here’s who qualifies.
The relief comes after the federal government acknowledged that it did not accurately count some borrowers’ payments toward forgiveness
https://19thnews.org/2023/07/student-debt-forgiveness-39-billion-biden-administration
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#StudentLoans

Biden Administration Forgives $39 Billion in Student Loans for 800,000 Borrowers

One-time credits will wipe out loans, fixing mistakes made by loan servicers when collecting payments under income-driven repayment programs.

The New York Times
Show threadVictoria Stuart 🇨🇦 🏳️‍⚧️

... Addendae

Biden’s Unconstitutional “Bankruptcy Abuse” Act Makes Peons of Student Debtors
The law prohibits education loans f. being discharged through bankruptcy. It should be repealed to provide relief
https://truthout.org/articles/bidens-unconstitutional-bankruptcy-abuse-act-makes-peons-of-student-debtors

Student loan borrowers were condemned to “involuntary servitude” when then-Sen. Joe Biden led Congress to enact the 2005 Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA)

https://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act

#StudentLoans #StudentDebt #JoeBiden #InvoluntaryServitude

Biden’s Unconstitutional “Bankruptcy Abuse” Act Makes Peons of Student Debtors

The law prohibits education loans from being discharged through bankruptcy. It should be repealed to provide relief.

Truthout
Jul 15, 2023 at 5:42pmWeb
Show threadJay FleischmanJul 16, 2023
@persagen The 2005 Act wasn't unconstitutional. It didn't prohibit discharge of student debt in bankruptcy, though it expanded 523(a)(8) to include private student loans. To discharge student debt in bankruptcy, the debtor must still prove undue hardship. Bad, unfair, and unjust law but stick to the facts to gain better traction on the issue.
Show threadSusanJul 16, 2023

@JayFleischman @persagen

Right, but proving that undue hardship requires the petitioner to file a separate claim (which costs lots of $ in legal expenses) and they’re very rarely granted. In effect, there is no discharge of student debt under bankruptcy.

Show threadJay FleischmanJul 17, 2023
@Pomegracias @persagen The stats on discharge are skewed because most of those cases are filed without a lawyer. Also, new guidance from USDOE streamlines the process and makes it easier for qualified people to obtain discharge at marginal increase in legal fees.