TSwizzle
Let's Go Brandon!
They (the Brandon administration) knew this was never going to fly.
Brandon, the lame duck president
Brandon, the lame duck president
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Biden administration announces partial student loan forgiveness
- Thread starter southernhybrid
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lpetrich
Contributor
McKay Coppins on Twitter: ""Nearly half of white students admitted to Harvard between 2009 and 2014 were recruited athletes, legacy students, children of faculty and staff, or on the dean’s interest list—applicants whose parents or relatives have donated to Harvard" (link)" / Twitter
noting
To Get Into the Ivy League, ‘Extraordinary’ Isn’t Always Enough These Days - WSJ - "A star student found herself with a pile of rejection letters from top schools during the most competitive college-applications year on record"
noting
To Get Into the Ivy League, ‘Extraordinary’ Isn’t Always Enough These Days - WSJ - "A star student found herself with a pile of rejection letters from top schools during the most competitive college-applications year on record"
lpetrich
Contributor
President Biden spoke earlier today on this issue. From the New York Times,
Something that he plans to make into a campaign issue. But will his campaign donors threaten to stop donating if he does so?
At least he's thinking of an alternative. Let's see if he gets anywhere with it. Will the Republicans litigate it to death? Will they play Calvinball yet again?
lpetrich
Contributor
More from Biden Vows to Try Again on Student Loan Forgiveness: Supreme Court Live Updates - The New York Times
That was last fall.
Instead of taking a hard line, like previous admins.
lpetrich
Contributor
Fox News on Twitter: "Chief Justice Roberts calls out Democrats demonizing the Supreme Court opinions they don't like. (pic link)" / Twitter
With a picture of the Justice, the Fox News logo, and this text:
With a picture of the Justice, the Fox News logo, and this text:
Alexandria Ocasio-Cortez on Twitter: "What’s actually disturbing ..." / Twitter
Without even offering the Francis Bacon defense: sure I took those bribes, but I didn't let them influence me.
Derec
Contributor
And yet the stats of admitted white students are significantly better (40 points on per section SAT scores for example) than the black students who are admitted because of their race.
The politically correct skin color helps far more than personal excellence.
Derec
Contributor
That is exactly what they are doing. For a few decades (ever since the Warren Court) the court tilted to the left. Even many Republican appointees tilted left on the Bench - think Souter or SDO'C. I guess it wasn't illegitimate to rule in favor of left-wing causes, but it is illegitimate to rule against them.
Rank hypocrisy!
Derec
Contributor
Maybe, but that alone does not make it legal without a congressional authorization.
Maybe that money can now be used to pay down the deficit.
What's stunning about that? PPP loans, and the mechanism for their forgiveness, were passed by Congress on a bipartisan basis. Hastily, with many bad provisions, but it is still something authorized by Congress. The $20k forgiveness is not.
Forgiving student debt is not about fairness. And $400G is not a trivial amount.
Two things can be wrong at the same time - the Trump tax cuts and Biden loan cancellation are both bad policies even as they are popular with the partisans on either side.
I doubt that will work. Sure, this stance is very popular with the base, but most people do not have student debt. Majority of people never went to college, and not even all of those who did accrued significant debt.lpetrich himself said:
Anything to not seek Congressional authorization. Or just tell college graduates (who are better off financially than most) to pay their debts.
Sigh. Again, most won't bother paying.
I think SCOTUS got it right. And if SCOTUS had limited an equally far-reaching attempt by President Trump to rule by executive order, the Dems would be cheering instead of jeering.
What Biden is doing is more akin to Calvinball. Instead of pursuing a congressional action, as something like this is supposed to be done, he is coming up with all these schemes to cancel $400G of debt by presidential decree. That's not very democratic.lpetrich himself said:
Derec
Contributor
Wrong thread, but this just shows how dumb she is and why it was mistake to elect her to Congress.
Treating everybody equally as individuals should be the goal. Not the racist doctrine of "equity" where people are not treated as individuals but only as ciphers for racial categories. And justices are not "illegitimate" for disagreeing with LWNJs like her. Besides, them being unelected is in the COTUS. Does she not know that?
If they are so "brilliant" they will get in without racial preferences. It is the mediocre black young people who demand to be admitted over better qualified white and Asian young people.
More like "great-great-great-grandparents". How long should that be used as an excuse? And saying that people will be "shackled" because they will no longer get a benefit for being a certain race is very disgusting hyperbole.
I do not think she or the most of the contemporary Left is progressive. They are all about identity politics these days. The last holdout was probably Bernie, and even he caved by the 2020 campaign.lpetrich said:
So she's a plagiarist besides.
Btw, Red Sonja's dissent shows why she needed to rely on her ethnicity to get into Princeton - or on SCOTUS. She is not very smart.
lpetrich
Contributor
According to the "major questions doctrine" that the court invented. I think that that is a dumb doctrine, because it's totally impractical for Congress to micromanage everything. If Congress has clearly delegated authority to do something, then one shouldn't second-guess that delegation of authority unless one has some good reason to, a reason stronger than major-questions bullshit.
A right-winger in favor of raising taxes. What a sight to see.
So Derec loves loan forgiveness when the loans are PPP loans. Maybe it's the sort of people whose loans get forgiven -- people who help themselves to PPP money.
Derec
Contributor
Plans such as these are why the Biden plan (and even more so the complete forgiveness pushed by the Left) are a giveaway to the better-off. College graduates are, on average, more affluent than the average American, and if somebody goes to college and drops out or otherwise fails to make much money, the income-driven repayment limits their repayments until and unless they start making big bucks. I do not see why high-earners should get a forgiveness.
Yesterday, there was a woman who called into Dan Abrams' program on SiriusXM. Abrams wasn't there and there was a sub. Anyway, the woman went on how she deserved forgiveness. She went to Bard College for BA and MA degrees and is now a teacher. She accumulated $200k in student debt that she now thinks other people should pay off for her. Sorry, but she could have gotten her degrees at a state university for a fraction of the cost. Why should I, who attended a public university, pay for her choice to attend an expensive, fancy private college? Unfortunately, the substitute host did not drill her on her choice to attend an expensive private college and expectation that somebody else should pay.
I think that plan is too generous. Many middle class people will qualify under his plan which should not be the case.
I think politically it will backfire. It's a giveaway to those who are better-off and also those who already support the Democratic Party.
Derec
Contributor
The HEROES act was never intended by Congress to apply to a broad cancellation like this. Even Biden was unsure if it would fly legally, and lo and behold it didn't. Really Biden should have sought Congressional authorization when he had a majority.
For the millionth time, I am not a right-winger.
I did not say I love it. It was a bad program. But legally, there is a big difference between a program explicitly authorized by Congress and one that isn't.
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For the millionth time, bullshit.
laughing dog
Contributor
I am of two minds in the SCOTUS decision. Congressional legislation can be sloppy, so I do like judicial oversight. Viewed in that light, I don't have a problem with the SCOTUS decision.
However, Robert's opinion whines about the large amount of spending in the loan forgiveness program. The amount of spending is none of his or any justice's business. Either the spending was authorized or not. The amount is immaterial.
However, Robert's opinion whines about the large amount of spending in the loan forgiveness program. The amount of spending is none of his or any justice's business. Either the spending was authorized or not. The amount is immaterial.
Copernicus
Industrial Grade Linguist
The people admitted to those colleges were never in the bottom-scoring class of applicants. They were talented minority students who did not have the benefit of connections, parents with college degrees, and, most importantly, money. Both black justices on the Supreme Court would never have gone to Ivy League schools without affirmative action, not to mention Barrack Obama. He originally went to Columbia University at a time when I taught there, and my classes had a fair number of minority students. (Obama did not take my introduction to linguistics course, as far as I remember, but those were large classes.) They were every bit as competitive as the others, some of whom had family connections to Columbia. I remember one such student who came in during office hours to complain that I was giving him mediocre grades, and he wanted to do extra credit work to get them up so that he could go to law school and "daddy" wouldn't be angry. That was just one person, but the Ivy League had plenty of white students who clearly didn't belong in a top tier university.
CosmicJellyfish
Gazpacho Police
The problem is the current court is ruling based on ideology rather than the Constitution.
lpetrich
Contributor
Biden Administration Forgives $39 Billion in Student Loans for 800,000 Borrowers - The New York Times - "One-time credits will wipe out loans, fixing mistakes made by loan servicers when collecting payments under income-driven repayment programs."
Who Qualifies for Biden’s $39 Billion Student Loan Forgiveness? - The New York Times - "The Education Department announced that more than 800,000 borrowers would see their debt eliminated thanks to fixes made to its income-driven repayment programs."
Who Qualifies for Biden’s $39 Billion Student Loan Forgiveness? - The New York Times - "The Education Department announced that more than 800,000 borrowers would see their debt eliminated thanks to fixes made to its income-driven repayment programs."
lpetrich
Contributor
If Banks Can Be Bailed Out, Student Debt Can Be Canceled - In These Times - "Biden must act now to make student debt relief a reality—no matter what the Supreme Court says."
Then noting "The Biden administration can and must implement student debt relief right away, acting swiftly before Republicans can concoct another frivolous legal challenge."
That's a rather drastic step, and I'd only recommend it if right-wingers disregard the Supreme Court on some favorite issue of theirs.
Then noting "The Biden administration can and must implement student debt relief right away, acting swiftly before Republicans can concoct another frivolous legal challenge."
That's a rather drastic step, and I'd only recommend it if right-wingers disregard the Supreme Court on some favorite issue of theirs.
lpetrich
Contributor
Opinion | Student Loan Repayments Are Dwindling - The New York Times - "America’s Student Loans Were Never Going to Be Repaid"
"Normally, borrowers slowly begin to repay loans after finishing college. So, the older the loan, the less likely it is to have a balance exceeding the borrowed amount."
"Normally" being before recent years. In 2009, 36% of borrowers had already accrued interest, making them owe more than borrowed amount. But of borrowers with loans from 1997, only 15% owed more than than original amount.
"But this system has been breaking down. 2013 was the first year when a single loan cohort had more than half their student loans carrying a balance greater than originally borrowed."
"Recognizing the rise in struggling borrowers, the government expanded the income-driven repayment program in 2015. Borrowers under that plan don’t have to make full payments. But their unpaid interest accumulates faster."
Rather curious to leave that unfixed.
"The line is high and flat in 2019, showing that most student borrowers couldn’t keep up with interest."
For new loans, 57% of borrowers owed more than originally borrowed, and of borrowers for 2007, 40% owed more than originally borrowed.
"The 2020 student loan repayment pause shook up this unhealthy dynamic. From then on, the youngest loans never accumulated unpaid interest, and the overall share of loans with balances greater than borrowed amounts began to come down."
"In 2022, recent borrowers were still benefiting from the pause. When the pause ends in September, balances are expected to trend back toward the 2019 plateau."
"Normally, borrowers slowly begin to repay loans after finishing college. So, the older the loan, the less likely it is to have a balance exceeding the borrowed amount."
"Normally" being before recent years. In 2009, 36% of borrowers had already accrued interest, making them owe more than borrowed amount. But of borrowers with loans from 1997, only 15% owed more than than original amount.
"But this system has been breaking down. 2013 was the first year when a single loan cohort had more than half their student loans carrying a balance greater than originally borrowed."
"Recognizing the rise in struggling borrowers, the government expanded the income-driven repayment program in 2015. Borrowers under that plan don’t have to make full payments. But their unpaid interest accumulates faster."
Rather curious to leave that unfixed.
"The line is high and flat in 2019, showing that most student borrowers couldn’t keep up with interest."
For new loans, 57% of borrowers owed more than originally borrowed, and of borrowers for 2007, 40% owed more than originally borrowed.
"The 2020 student loan repayment pause shook up this unhealthy dynamic. From then on, the youngest loans never accumulated unpaid interest, and the overall share of loans with balances greater than borrowed amounts began to come down."
"In 2022, recent borrowers were still benefiting from the pause. When the pause ends in September, balances are expected to trend back toward the 2019 plateau."
All the people who demand that people not have children that they can't afford, they then become outraged at the resulting low birthrate.