The Briefing Room
General Category => Health/Education => Topic started by: mystery-ak on August 07, 2023, 01:46:41 pm
-
August 7, 2023 6:18am EDT
Think tanks file suit to block Biden administration's plan to cancel $39B in student loans
New Civil Liberties Alliance filed the lawsuit in Michigan Friday on behalf of the Mackinac Center for Public Policy and the Cato Institute
By Landon Mion FOXBusiness
Two think tanks are urging a federal court to block the Biden administration’s scaled-back plan to cancel $39 billion in student loans, arguing that the plan exceeds the administration's authority.
The lawsuit was filed Friday in Michigan by the New Civil Liberties Alliance on behalf of free market think tank Mackinac Center for Public Policy and libertarian think tank the Cato Institute.
The groups accused the administration of overstepping its power in announcing student loan debt relief for 800,000 borrowers worth $39 billion – a plan the Department of Education rolled out shortly after the Supreme Court struck down a broader student loan handout plan pushed by President Biden.
Friday's lawsuit requested for a judge to rule the latest debt forgiveness plan as illegal and to block the Department of Education from carrying it out until the case is decided.
more
https://www.foxbusiness.com/personal-finance/think-tanks-file-suit-block-biden-administrations-plan-cancel-39b-student-loans
-
If Biden keeps trying to help whippersnappers welch on their college debt, who is going to buy the securitized student loans on the secondary market?
If anything, it's the colleges that should be liable for student debt. They defrauded the students into taking loans for a product that was not worth the price.
When you are in college or applying to college, the boosters brag how much a degree from their instiution is worth and how much it will provide that student with a competitive advantage in the labor market.
-
What is their basis for standing?