Circuit court puts final nail in the coffin for Biden's $500M student loan forgiveness plan

[mystery-ak]

Circuit court puts final nail in the coffin for Biden's $500M student loan forgiveness plan
Biden tried a litany of policy maneuvers to push through student loan forgiveness
By Anders Hagstrom Fox News
Published February 18, 2025 12:53pm EST

The U.S. 8th Circuit Court of Appeals put a final end to former President Joe Biden's student loan forgiveness plan on Tuesday.

Missouri Attorney General Andrew Bailey originally sued the Biden administration over its $500 million effort to wipe away student loans, known as the SAVE plan. The court's Tuesday ruling found that Biden's secretary of education had "gone well beyond this authority by designing a plan where loans are largely forgiven rather than repaid."

Bailey noted in a statement that the ruling has no active impact beyond blocking future presidents from attempting Biden's maneuver.

"Though Joe Biden is out of office, this precedent is imperative to ensuring a President cannot force working Americans to foot the bill for someone else's Ivy League debt," Bailey said in a statement.

more
https://www.foxnews.com/politics/circuit-court-puts-final-nail-coffin-bidens-500m-student-loan-forgiveness-plan

[IsailedawayfromFR]

Million or Billion? Big difference @mystery-ak

U.S. appeals court blocks Biden SAVE plan for student loans
CNBC
SAVE, or the Saving on a Valuable Education plan, came with two key provisions that the lawsuits targeted. It had lower monthly payments than any other federal student loan repayment plan, and it led to quicker debt erasure for those with small balances.

Implementing SAVE could cost as much as $475 billion over a decade, an analysis by the University of Pennsylvania’s Penn Wharton Budget Model found. That made it a target for Republicans, who argued that taxpayers should not be asked to subsidize the loan payments of those who have benefited from a higher education.
https://www.cnbc.com/2025/02/18/us-appeals-court-blocks-biden-save-plan-for-student-loans.html

[Smokin Joe]

Somewhere in the course of getting a college education, you would think they'd have found out the best and fastest way to retire a long term debt is to make larger payments. Rounding up to the Next even $100 shaved two years off my mortgage.
Most credit card statements have a section that shows the difference in expense and time for making minimum payments versus larger ones to pay off the current balance.

[IsailedawayfromFR]

Somewhere in the course of getting a college education, you would think they'd have found out the best and fastest way to retire a long term debt is to make larger payments. Rounding up to the Next even $100 shaved two years off my mortgage.
Most credit card statements have a section that shows the difference in expense and time for making minimum payments versus larger ones to pay off the current balance.

I did the same with my mortgage, but I never got rid of it totally until I retired 10 years ago.

There should have been some class action lawsuit against Biden for the forgiveness of student loans, as he deliberately did not give equal access to those who went to college.

You and me never was given the opportunity to get repaid for our college expenses, did we?

[DefiantMassRINO]

I never saw the Federal Government lining up to pay for my mortgage, car loan, or the $10,000+ I paid out-of-pocket cash to get technical certifications in the 1990s.

Government, keep your grubby covetous hands off my hard won earnings.  FJB