Biden's new student debt scheme could position Democrats for 2024 talking point

[mystery-ak]

Biden's new student debt scheme could position Democrats for 2024 talking point
by Breccan F. Thies, Investigative Reporter |
July 06, 2023 04:00 AM


The timing of President Joe Biden's new student debt cancellation plan may position Democrats with a beneficial messaging opportunity in the 2024 election.

After the Supreme Court ruled against the Biden administration's initial student debt cancellation scheme last week, Biden vowed to pursue a similar effort using a different law as the authority.

The basis for the new attempt is the Higher Education Act of 1965, which gives the secretary of education the power to "compromise, waive, or release any right, title, claim, lien, or demand, however acquired, including any equity or any right of redemption."

The initial pledge to cancel $430 billion in student loan debt was based on the Higher Education Relief Opportunities for Students Act of 2003, which gives the education secretary the ability to "waive or modify" loans. Chief Justice John Roberts wrote in his opinion Friday that such an expansive authority would require an explicit act of Congress.

After being dealt a blow at the Supreme Court, and with the 2024 election on the horizon, the Biden administration's new plan will take longer to enact as it must go through a monthslong rule-making process.

more
https://www.washingtonexaminer.com/policy/education/biden-new-student-debt-scheme-2024-talking-point

[Kamaji]

Biden's new student debt scheme could position Democrats for 2024 talking point
by Breccan F. Thies, Investigative Reporter |
July 06, 2023 04:00 AM


The timing of President Joe Biden's new student debt cancellation plan may position Democrats with a beneficial messaging opportunity in the 2024 election.

After the Supreme Court ruled against the Biden administration's initial student debt cancellation scheme last week, Biden vowed to pursue a similar effort using a different law as the authority.

The basis for the new attempt is the Higher Education Act of 1965, which gives the secretary of education the power to "compromise, waive, or release any right, title, claim, lien, or demand, however acquired, including any equity or any right of redemption."

The initial pledge to cancel $430 billion in student loan debt was based on the Higher Education Relief Opportunities for Students Act of 2003, which gives the education secretary the ability to "waive or modify" loans. Chief Justice John Roberts wrote in his opinion Friday that such an expansive authority would require an explicit act of Congress.

After being dealt a blow at the Supreme Court, and with the 2024 election on the horizon, the Biden administration's new plan will take longer to enact as it must go through a monthslong rule-making process.

more
https://www.washingtonexaminer.com/policy/education/biden-new-student-debt-scheme-2024-talking-point

Which means that the process can be attacked at multiple pressure points during the regulatory process, including notice and comment periods, and suits under the APA.

[DefiantMassRINO]

 

Talking points ... creditors don't accept those.

[Hoodat]

The basis for the new attempt is the Higher Education Act of 1965, which gives the secretary of education the power to "compromise, waive, or release any right, title, claim, lien, or demand, however acquired, including any equity or any right of redemption."

There was no Secretary of Education in 1965.

[Kamaji]

There was no Secretary of Education in 1965.

The act has been amended numerous times, and the term "Secretary" as used in the act, as codified, now means the Secretary of Education.  20 USC § 1003(17).