https://www.npr.org/2022/09/29...llation-ffel-perkins

Ludicrous policy making.

Terrible politics.

Moral hazard. These things need to be done in Congress, and he knows that will never happen. he's hoping to reap the votes without this ever coming to fruition.

I don't know how Democrats can support him. Yes, he's not Trump. I guess they meant it when they said, "anyone but..." They elected "anyone" and the political price they will pay for this debacle will be brutal.

quote:

Originally posted by Daniel:
I don't know how Democrats can support him. Yes, he's not Trump. I guess they meant it when they said, "anyone but..." They elected "anyone" and the political price they will pay for this debacle will be brutal.

But still way better than Trump.

He's tweaking it to prevent various groups from having the standing to sue, since the executive action itself would likely never survive a court challenge.

I'm expecting him to add an opt-out provision to moot the case of the Indiana plaintiff that has a real chance of stopping this.

How about an opt-out for taxpayers?

Well, you used to be able to discharge it in bankruptcy until... Biden.

Also, this recent change was in favor of banks.

I'm just saying.

He took his own bad policy and made it worse.

Do those 700k- 800k people pay taxes or vote?

How would we know?

quote:

Originally posted by Daniel:
Well, you used to be able to discharge it in bankruptcy until... Biden.

1. It is not accurate to say that student loan cannot be discharged in bankruptcy today, there is still a provision in current law that allows student loan to be discharged in bankruptcy where “undue hardship” can be proven.

2. I looked up the law that first made student loan non-dischargeable in bankruptcy (except for undue hardship) and tracked it backed to the Education Amendments of 1976. For sure Joe Biden was already a US Senator at the time, and it’s possible that Biden has voted FOR that bill. But as far as I can tell, Biden is not among the co-sponsors of that bill. See https://www.congress.gov/bill/...bill/2657/cosponsors

Since 1976, there have been many revisions to the law that governs student loans with regards to bankruptcy. Someone put together a nice article around this: https://www.tateesq.com/learn/...nkruptcy-law-history

It even provides a nice slide deck on the timeline on student loan/bankruptcy law: https://www.slideshare.net/tat...-the-bankruptcy-code

What does "undue hardship" mean?

He voted for the law? That was his position.

What about the 700k- 800k who were going to be helped-- until they weren't?

I guess I'll be the one to be concerned about them.

Thanks for your excellent research, Ax.