Fucking hate the Imperialist Democratic Party, and think there’s basically no chance they’ll actually pass meaningful student debt relief under Biden.
But a universal vanquishing of the first $50,000 held in student debt by graduates will meaningfully improve the conditions of tens of millions of Americans; for both graduates, and those who did never attended a post-secondary institution alike.
57% of Americans support “forgiving up to $50,000 in student loans for individuals who live in households that make less than $250,000 a year”, including a majority of those who never attended a College.
This just seems rich considering Chapo often mocked liberals who were incapable of admitting that Trump can do good things at times, and now they may fall into the same trap of opposing on instinct everything coming from the Biden camp.
Actually people should keep suffering, because stopping it with the stroke of a pen would alienate the working class
The President straight up does have the power to cancel all Federal Student Loan debt , which is 92% of student loan debt. Biden won’t do it, but he is able to.
Not legally under U.S constitutional law since Youngstown Sheet & Tube Co. v. Sawyer. The difference is that 92% of Student loan debt is owed by the Department of Education, which is why the Executive can cancel it without needing Congressional approval.
Question. Usually the government sells these federal loans to private companies to collect. If a private company now “owns” that debt, how does the government have the right to forgive it?