NOT authorized

Liberal heads will explode.....

If only that would literally happen!

Court strikes down BIDEN debt forgiveness.....

One case ruled as not having standing....

Nebraska case does, and here's the ruling......

https://www.supremecourt.gov/opinions/22pdf/22-506_nmip.pdf

Now rule for no reparations.

Good

Pretty much everyone with a smattering of knowledge of the US Constitution knows the Hero's Act was an overreach. The whole debt forgiveness issue was an attempt to sway with mid-term elections and it worked.

Hell NO....

I've had to repay my student loans three times, the way they let the government run it all in the 70s, 80s and 90s...

it was only $3500 borrowed for putting myself thru college. Thank God.

one of my friend's 40 year old son, was complaining to me recently, that he borrowed $35K for college, and after paying for 15 years plus he owns $50K now, with all the interest they keep putting on it...

Student loans are a racket, by the government and the University System.

I supervised my son going thru college. Get all you can at the local community college system, and then get yourself a job. He did medical field as I advised. Then he got his Bachelors Degree in Health Care Administration on line, thru Southern New Hampshire University, taking 2 courses every 8 week semesters. After completing each semester, the Hospital reimbursed him for his costs.

He's got two associates degrees from the local Community college and the Health Care Administration Degree thru SNHU, and has ZERO College Debt hanging over him....

The case was accepted due to Missouri which joined the suit having standing.

Our two adult kids have outstanding school loans and they know I'm glad the Supreme Court ruled this way. The loans were to help them provide for a good career, and came with a promise to repay. They know we paid our loans (for several years, they were more than our mortgage) and they understand the value of keeping your promise. Thank you, Supreme Court!

Great news I heard that this morning NPR went out and found a bunch of crybabies I don't have to pay your damn bill on your s***** decision

It works this way. Create a horrific problem then create a worse fix for said problem. It goes on forever.

Another common sense ruling; it was never about forgiveness , but about transfer of the debt to other hard working Americans. Wealth redistribution and buying votes.

i bet a couple races are furious they want every thing for nothing no matter their grades or even if they mostly drop out ?

I'll bet there are more plain 'ole white LIB kids crying about this than any other race......

All these cowards have to do is serve their community for 10yrs, make all their loan payments within those 10yrs, and boom....remaining loans forgiven.

PSLF

AOC is probably throwing a hissy fit. Good! pay your damn loan back!

Yes! Worked hard, got 3 degrees, and graduated with no debt. With only a high school education, I was well aware of what the term "loan" entailed.

It's been entertaining watching the MSM/Fox interviews of students who believe they are entitled to loan forgiveness. Most seem to believe the Executive Branch can somehow establish laws and mandate/modify the use of taxpayer dollars.

This is a High School Civics class issue. At the most basic level of our government as outlined in the US Constitution, the Executive Branch has no authority whatsoever to forgive debt or establish law.

Why this is a surprise to anyone speaks volumes on how poorly educated Americans are today. The US education system favors indoctrination over education. That's painfully apparent now.

I don't have strong feelings either way. My son owed about $20K in a low interest loan. He got a good paying job and now owes less than $5K. He will pay it off sooner rather than later, but neither of us would feel bad if the rest of the loan were forgiven.

They are going to give our money away anyway. I'd rather see young adults in their 20-30's trying to get a leg up in life get it than the millionaire's who don't need it.

There were 12 or 13 congressmen who got a combined $16 million in PPP loans forgiven. That works out to over $1 million each in free money for them. But all of them voted no to forgive an average loan of $10K for someone else.

Good, I paid my student loan and don't want to be paying for others. The problem is that there are so many people who got student loan and get a degree where it does not pay well or there are three graduates for every two jobs. I say get a degree in something that pays and there are jobs available. Also there is nothing wrong with trade school or on the job training if it is going to produce.

I remember hearing of a guy that worked with the city sewer. Literally a chitty job. But he was paid a lot better that someone who got a degree in a field that did not have jobs.

This isn't just kids - 8.4 million Americans age 50 and older held $336.1 billion of student loan debt in 2020 - almost a quarter of the total.

WFT. Pay off your loans asshats. You've had 90% of your productive life to do it.

The net effect of the SCOTUS ruling is this: 87% of taxpayers will not have to foot the bill for the student loans of the 13% who owe the money.

But this was never really about forgiving the loans of those who owe the money. It was about setting a precedent to eventually enable anybody who wants to further their education past 12th grade to do so completely at taxpayer expense.


And that really isn't about having a more educated populace. It's about propping up the college and university faculty and administrators that are facing looming layoffs over the next decade as enrollment drops due to demographic and employment shifts.

If it were not for foreign students paying big bucks (usually supplied entirely or at least partially by their governments), many colleges and universities would have to face some very hard fiscal choices already.

I do have strong feeling about this.
Great that your son is stepping up to his responsibility, instead of putting it on the rest of us.
I didn’t ask anyone to pay off my student loan and I sure as hell do not want to pay for others loans.
This issue is not complicated, though some want to portray it as such. The Supreme Court made a “common sense” decision.

It is not right to ask your neighbor to pay off a loan that you signed up for. That simple.

You know the dhimmicrats and RINOs have a works around.

If someone has a degree in something useful, that might be worth society paying for it.

But those with unpaid student loans are the ones who studied useless leftist BS.

AND, they do that. Drs and maybe lawyers, and others, with debt, can spend a certain amount of time working in areas/regions where their profession is under represented, or there is a specific need, and their remaining debt is paid for.....

But you don't see those offered for Political Science, or Journalism degrees.....

If we want to do something positive for the nation and for those seeking employment, provide zero interest student loans for Trade Schools. At least they will have a paying job when they graduate.

But that's not what the progressives want. They want to preserve and perpetuate socialist ideology. You don't find that in a Trade School.

The Bidet is going to make a National Specticle, speech, at 3:00. More attempts to buy votes with my money. Suck it up, you borrw, it is a lan, pay it back.

Maybey "The Big Guy" will pay up, some of his ill gotten loot.

My 34 year old unmarried niece with poly sci degree is living in a house, rent free, owned by her parents. That is in 2023.
I have a brother with an economics degree. In 20 years he made one house payment to my father. That was settled in 2011.
My uncle made no house payments to my grandfather. That was settled in 1960.

We have bums in our own family.

My son and I started discussing possible career paths for him when he was a freshman in high school. After Biden was installed in the White House, one of my son's top options, the military, was crossed off the list.

During his junior and senior years, he split his time between regular high school classes locally, and taking HVAC courses at the Technical High School in Indianapolis. He graduated last month, and was already certified with OSHA and EPA for HVAC.

He took one week off, then started his job (starting pay $24/hr) as an HVAC technician working for a local commerical HVAC contractor in Indianapolis.

He is probably two hundred thousand dollars ahead by doing that instead of delaying adulthood by going to a four year college and piling up debt.

Also, an engineering degree ain't worth now what it was thirty years ago.

Companies are importing thousands of engineers from India who think $45,000 is a lot of money...

Congratulation to both of you.

We need lots more like Mike Rowe Works Foundation https://mikeroweworks.org/ to show that a liberal arts education is a fast track to poverty. Working with your hands is a fast track to making a living and improving your plot in life.

Congrats to your son.
However, one can easily go to college, (not Yale Harvard etc) work part time and accumulate very little debt. And with the right degree, start at $75K plus.
Nothing wrong with a trade job, but a college degree is attainable for most of us, and if chosen wisely, can be lucrative.

Nothing more than academic reparations using taxpayer money.

Makes those who couldn't afford it and those who honored their obligations a gullible schmuck.

Efem....all of 'em.

My student loans totaled $12k in 1986 when I graduated. That was a lot of money to me back then.





P

My two daughters, had available to them a Lottery based scholarship, you maintain a certain GPA, the State pays for your tuition.....

'Our deal' was you maintain the grades, tuition is covered by the State, we'll cover living, lose the grades YOU cover tuition.......

One got sick and had to repeat a semester, that's the ONLY tuition that I covered for TWO Bachelor Degrees.... + some books......

We said the first 4 years is on us, the rest is on you......

Youngest got a Masters in Public Health, not a barn burner in the $$$$ department, went on to PA School, now works at an Emory cancer clinic...

Oldest Business and Finance major, CFO for several companies, now mostly free lance, her goal was 'to make more than the Old Man when he retired' - she does!

I am blest.....

As a bonus, SCOTUS has done more to reduce the Fed budget with this action, than Congress has in 2 years....

My son graduated at the beginning of June.
Honors student, just outside the top 10 in his class, great test scores, etc.
He absolutely wrote off college as an option and, for the same reasons as your son, wrote off the military.
He had several options he was considering and opted to start working for a local electrician this past week. He seems to be liking the work, and his supervisor reached out today to comment on his work ethic and attitude.
I can't think of a single reason to criticize his plan.

There are lots of ways to end up in a good place. I suspect a young man like him would find success with any of them. He’ll do fine.

College is still very doable but I’d advise a student to be cost conscious. Most of the first year can often be done before graduating HS. By combining community college with scholarships and part time work, a 4 yr degree can be had with limited borrowing. Just be sure to pick one that pays.

I don't disagree.
I'm not anti-college, I'm anti useless college. If one is pursuing a career which necessitates a degree, so be it. As you pointed out, in those cases there are cost effective ways to get that degree responsibly.
A lot of my friends' graduates are going to college, and most of them have plans which involve the need for those degrees. The couple that don't (liberal arts) I just shake my head and keep my mouth shut.

I and my youngest son disagree.

Keep in mind, SCOTUS didn’t say it couldn’t be done. They just said the way Bidet did it was unconstitutional.




P

Precisely this!!!

Yep I agree

Times have changed. My college ed was pretty good and cheap enough to pay off by working part time and summers. Things are different today. Forgive the understatement. The scam would make the scum bankers whole for their greed and stupidity at taxpayer expense, as always is the case. They also want to make new loans to these fools for houses, etc. The symbiosis with greedy colleges who took advantage of new loan programs to raise prices while lowering quality in favor of leftish indoctrination left, what millions?, in the lurch. A pretty strong class action case could be mounted against the colleges for fraud seems to me. Force them to pay off the banks to clear up student credit history. The case could be made for moral hazard for luring these naive kids into useless education. There are plenty of cases of irresponsible borrowing however to doom that brilliant idea perhaps. Glad it's quashed.

Biden knew this was going down the drain it was all about buying votes and it worked.

I think I put this in another post but wifey and I went the 529 route. We opened accounts for each one of the grandkids when they were born. So much a month deposited for each kid. The oldest will start college this fall with a 30k head start.

Why didn't they just make it legal to default on student debt? It would get the borrowers who could never pay them get out of debt and it will force the lenders to scrutinize who they lend money to. This is how banking is supposed to work...

Yep on the 529. A thousand a month for our grandson and another grand a month when our granddaughter arrives later this year.

+1

Make it like any other loan. Let the shylocks decide who they loan to based on risk same as it is (or should be) for a mortgage or car loan.

Wow EdM. Each one of them will be able to own their own school by then! I think Iowa's 529 is only rated a c- or something overall but it was still about 1 third my money 2 thirds earnings. It was a blessing to Gma and Gpa as neither one of us went past high school

No doubt student loans are a problem and something needs to be done in putting a stop to the non sense of easy borrowing for out of hand tuitions. I am glad however that forgiveness wasn't accomplished. There would be no learning from that.

With a PharmD degree I am one who owes a bunch of student loans. I got through my undergrad/bachelor's with zero debt. There was simply no way to do so in pursuit of the graduate degree. Anyway, I could go on in my ramblings.

Large student loans with high interest rates (8%) are demoralizing in trying to pay off. In the first 5 years of repayment, we had paid exactly what we had borrowed. But do to capitalization we still owed the same amount that we had borrowed. However, it's been motivating to do so when seeing the needle move at 0%.

If I were king for a day the first thing I would do is place incentives for getting them paid off quickly. For example, let's say the incentive is the interest rate remains/starts at 0% for x amount of time. Payments are required, otherwise the interest rate increases. If you pay off the principal in that time frame you're done. If not, the remaining balance than receives a teared interest rate based on time frame.

Student loans were designed to help people increase their wages and hence put them in higher tax brackets. Therefore increase government revenue. As is, it's been a cash grab for univserties and (for lack of a better word) enslave people to the system.

I'm 73 and was blessed in that my parents told me they would cover my college. This was in 1968. Got a good degree and have been in construction since then. Divorced from my first wife and had to pay for those two kids. Or, part of it. The first one did 3 1/2 years of college and had less than one years worth of credits. The other ended up paying the last three years with grants and scholarships. Son with second wife got his degree in two spurts. Is not a registered professional engineer. I had about $10K in debt for them I paid off.

Tuition has gotten too far out of control. The colleges/universities see they can get lots of easy money. I work with a guy whose son is going to dental school. Just finished his first year. His son expects to have $400K in student loans when he graduates. That is insane.

Yes that is insane. But he made the decision. Im glad the taxpayer is not having to pay for his decision.

Agreed Ed! I graduated with a BS in Chemical Engineering in the mid-90’s and started at $44,400 a year. We pay a starting salary of about $100k a year now for new grads. If I would have gotten any other degree (including one of those 8yr degrees) I probably wouldn’t make as much as I do today.

I had about $20k in student loans when I graduated, plus another $5k or so in credit card debt - not because I was stupid with money, but because I was poor, got very little student aid, and my parents paid very little (<10%) of my costs. I also worked part time. Paying it back was like having another car note every month, but it was all paid back in less than 10years.

All that to say I would do it all over again! But you have to get a degree that pays a good salary and provides good career opportunities!

I got a 4 year degree in History. I worked my way through school and never borrowed a dime.

I wound up a Blue Collar man, and worked as a paramedic, and as a log home builder, and 8 years as an over the road truck driver.

I know what these kids are doing on these student loans today, running up $55 grand in debt for a Psychology degree. They are partying! Lots of girls in college, very friendly girls, and lots of pot and booze.

And now, they can't get a job with their degree, and they want blue collar guys like me to pay off their loans. It is unfair.

Interesting facts:

The number of borrowers aged 60 and over grew six-fold since 2004, while their outstanding debt
increased 19-fold. Today, 3.5 million Americans 60 and older hold over $125 billion in student loans.
If you are on social security and default on your student loan 15% of your social security can be garnished.

The shylocks would then require co-signers, which would most likely be parents. And then we parents would be on the hook for slacking kids. Back in the early 80's, I actually had to co-sign for my fiance, since her dad was laid off at the time. Bankers will always win.

Bingo! It was a scam to begin with. They didn't count on off-shoring and in-shoring cheap foreign labor to kill off any opportunity for debt strapped students to find a job.

I’m 42. Had about $20k in loans with an engineering degree. Your friends son should have paid attention in some math classes on how interest works.

People say these student borrowers should be treated just like everyone else who borrows money. I agree - allow student loan debt to be dischargeable in bankruptcy, just like other debt.

That would be fine with me. I'd rather be on the hook for my own kids, rather than everybody else's.

Over my life time I have borrowed some large sums of money, no one ever said lets forget it, if you borrowed the money, no matter what you borrowed it for, you pay it back or your creditors will fore close on what assets you have, and will file on all your future income till the debt and interest is paid. these student loans should be fore closed on if they are in default, and the schools should be responsible for their lending, who to and what for and the ability to pay back the loan in a timely manner. there ain't no free rides in the real world, the sooner they learn, to count the better. I am debt free and have been for over 40 years. Rio7

When asked, the majority of students with loans stated they would go on a vacation if the government forgave their loan. Probably great news for Disneyland, but hardly the productive moves that Biden stated.

Hmm, the parents don't have to sign for their slacking adult kids. Somebody needs to make tough choices on whose education should be invested in and whose should not.

I'm very happy I got my degrees, worked my butt off to keep loans to a minimum, carried as much as 21 credits per semester, summer school, part time work, and still found time to major in girls.... It gave me choices, the opportunity to work in the office as well as outdoors as I saw fit, and choose the way I wanted to earn a business. Business and economics classes are helpful to this day in runnign my operation.

I'm very happy my daughter got her degrees, working very hard, minimal loans, she went overseas to get her Master's because tuition was 3K per year...... Nothing worthwhile having is easy. She's working in her field and thriving and enjoying her career.

I'm very happy my son did not finish college. He has some challenges with a severe form of dyslexia, and a mind that should be outside doing things instead of sitting in front of a computer all day. He found out while working through college that it would lead him to a place he should not be. No loans, and started his own business instead. The business is very successful and he's enjoying the heck out of life now.

Our generation was told we absolutely needed a degree to have a successful career and be middle class or better. As a result, there's an over supply of degrees, and many plumbers and electricians make more than lawyers and teachers. I don't think that's a bad thing.

Almost no 18 y/o is bankable for a conventional loan for the amounts needed. Lots of parents aren’t either, for that matter. It wouldn’t really work to make college available only to the kids from wealthy families. We need more educated workers than that.

Bankruptcy? Virtually every student is bankrupt on graduation day. I sure was. Imagine the number of personal bankruptcies if they could all just wipe the slate clean. Taxpayers would end up with the bill anyway.

The elephant in the room is the crazy high cost of higher education. Cheap loans with easy payment terms just make the cost spiral further out of control. Nobody on the Left has any interest in controlling those costs. Lots of those dollars are funneled right back to them.

No loan forgiveness-- you took the loan, you pay it

We are teaching two generations to be extremely entitled. I’m glad I get 18 months to fire people at will before they get union representation.

Exactly. And some parents will have to recognize a poor investment and tell their kids “no”.

I put one kid through college and am in the process of putting another through. It doesn't have to be all that expensive if you do it right. They'd have no problem paying their expenses with a part time job had I not agreed to cover it for them.
I look at it as an investment. If I don't have to feed them after they graduate and get a job, I'll be ahead. It worked for the first one.

Loans aren't for wealthy kids. They are for kids who choose a major at a school that will likely enable them to repay the loans. Other choices shouldn't be given loans.

They tried that in the mortgage industry until the democrats said that was racist and ANYONE should be able to qualify for a loan. We are in the same place as the student loan program. Shocking...

The easiest way to sort this out is to make the school receiving the student and loan cosign for the loan. When the student fails to pay, the school must make up the balance. Two things will happen, schools will start teaching curriculum that guarantees employment, and loan defaults will be a thing of the past.

+1, and if they are, the institutions that made the loans can deal with the defaults.

Ever since Obama federalized all student loans the students have been headed for trouble. I got mine back when loans weren't federalized. My interest rate was 1.625% and after making 48 on time payments I got a 1% rate reduction and they locked the rate after that. My rate was less than 1 % for most of the life of the loans.

I paid extra when rates on savings accounts were lower and when savings rates went up I paid the regular payments and put what extra I had in savings or towards my mortgage. It took me several years to pay them because the rates were so good it was my last debt. I actually paid my new home off before paying student loans.


I believe the loan programs were much better before the feds took them all over. They used to be pretty good about limiting how much you could borrow. This was nearly another big bonus for the bloated Marxist infested academia. Got to keep all those professors tenured in their $180,000 a year jobs were they teach 3 classes a week 2 semesters a year when their not on sebatical or spending a semester doing research or traveling on the university dime.

Bb

if you want to screw something up irretrievably just turn it over to the Feds.

Aside from baiting of students through the rotten scheme brewed back when by the higher ed establishment and the USDE, the Dem politicians and greedy loan recipients asked for this debacle. Biden did it for pure lowdown political purposes and those who took the bait and actually expected "forgiveness" were too dumb to see the real picture. So much for a "higher education".

Gold Star !

The libs knew when they ramped up that student loan program that they would suck in millions of recipients over a long period. And that it would be tough for them to be paid off. So you have a large segment of voters aged from 20-40 years old as well as parents looking to vote for politicians willing to say they are for loan forgiveness.

10k-20k is a big carrot for those who owe. It will be real easy for them to vote for more forgiveness. All they need is a taste of free money to hook them on it if they havent been given it all ready.

Just another government program that worked just like the libs wanted and designed it to and another one run amuck for the tax payer. And don't forget thats only 50% of us.

There are some very strict laws against predatory lending practices in the payday loan and check cashing businesses. Why not the same for student loans ?

Because denying a student from taking out a $300,000 loan to obtain a degree in Ancient European Basket Weaving is racist.

Because the University Elite considers themselves above such logic....

Douglas Murray commented a while back about a father who felt for sure his misguided daughter majoring is Lesbian Dance would come to her senses upon entering the job market. To his astonishment there actually were job openings in Lesbian Dance.