Leftists don’t respect the rule of law and will do anything to justify wealth redistribution schemes.
Whether or not this will work, or if the President actually does have the power to cancel student loan debt, under other legal provisions remains to be seen. …
Multiple outlets confirmed that the Biden administration will seek to push student loan forgiveness through multiple avenues including the Higher Education Act of 1965:
As President Biden denounced the Supreme Court ruling Friday striking down his student debt forgiveness program, he said his administration would start a new effort to cancel college loans under the Higher Education Act of 1965. https://t.co/sCXQczv0EI
— The New York Times (@nytimes) June 30, 2023
Following the Supreme Court's decision, President Biden just announced he will seek student loan forgiveness through a new path under the Higher Education Act of 1965.
A provision in the act allows the Secretary of Education to compromise, waive or release federal… pic.twitter.com/M5wq2oRF6X
— MeidasTouch (@MeidasTouch) June 30, 2023
CBS News explained the Higher Education Act of 1965:
The law also supports teacher training, community service and library programs.
The most far-reaching and essential component, however, was the establishment of low-interest federal student loans.
These loans are made by the government using federal capital. In 1972, Pell Grants were created under the act —and 51% of the funds go to students whose families earn less than $20,000 annually, according to Education Data Initiative.
One individual claimed, “For the thousandth time: JOE BIDEN CAN FORGIVE ALL STUDENT DEBT VIA EXECUTIVE ORDER USING THE HIGHER EDUCATION ACT OF 1965 SECTION 432a!!! He could’ve done it at any time, but he hasn’t because he doesn’t give a damn about American kids.”
For the thousandth time: JOE BIDEN CAN FORGIVE ALL STUDENT DEBT VIA EXECUTIVE ORDER USING THE HIGHER EDUCATION ACT OF 1965 SECTION 432a!!! He could’ve done it at any time, but he hasn’t because he doesn’t give a damn about American kids.
— Robert (Durden) (@realrobdurden) June 30, 2023
SCOTUS striking down Biden's student loan debt forgiveness was part of his plan. He can say he tried without any chance of upsetting his donor base.
If he really wanted to eliminate student loan debt, he can do it under the authority granted by the Higher Education Act of 1965.
— Gritty is the Way (@Gritty20202) June 30, 2023
News Nation reports that Biden has promised to forgive student loan debt in other ways:
In his address, Biden announced he would continue efforts to forgive debt.
He cut the maximum payment to 5% of a borrower’s disposable income, down from 10%, with the balance of the debt forgiven after 20 years of consistent payments.
He also announced borrowers who miss payments when they resume this fall would not be referred to credit agencies, a program set to last for 12 months.