Washington Democrats are making a successful bid to win the hearts (and votes) of millions of America’s college graduates and current students with ongoing student debt cancellation programs.
Washington Republicans, meanwhile, have no competing plan (except maybe to lightly ‘tap the brakes’ on Democratic plans..). Stay tuned on that..
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Plan B: Biden Admin Preps For Another Showdown Over Student Debt Cancellation
ZeroHedge, Feb 09, 2024 – 04:40 PM | Authored by Sam Bourgi via CreditNews.com,
Excerpts:
With Democrats pushing for all-out student debt relief, the Department of Education is planning further negotiations on expanding financial aid to more borrowers.
The department will hold a fourth “rulemaking session” on Feb. 22-23 to discuss which borrowers may qualify for student debt cancellation. Specifically, the negotiations center around student debt forgiveness for borrowers experiencing “financial hardship.”
Known as Plan B, this is the Biden administration’s second attempt at comprehensive debt relief—the first of which was struck down by the Supreme Court last summer.
At the time, the court ruled that Biden’s $400 billion loan cancellation plan was unconstitutional because it exceeded the power of the executive branch.
A source familiar with the matter informed Business Insider that the new round of negotiations will remain within the limits of the Supreme Court’s decision.
That decision appears to have provided the government with more certainty on how to navigate the murky waters of student debt forgiveness. Under Biden’s tenure, the Education Department successfully canceled $136 billion worth of loans for more than 3.7 million Americans.
As Creditnews reported, the Biden administration also fast-tracked debt cancellation for millions of borrowers who qualified under the SAVE Plan.
There’s a reason why Biden is pushing hard for student debt relief: 2024 is an election year, and he promised more than 40 million borrowers they’d receive assistance….
Not everyone is pleased with the government’s progress on student debt relief….
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Main Street America Republicans do have a plan – one that will benefit college students and graduates with current student loan debt balances – with tangible benefits that would be far superior to those offered by Washington Democrats….
And would provide major benefits to all of those hard-working, tax-paying post-college Americans who did pay off their student loan debt…
And would provide major benefits to all of those hard-working, tax-paying Americans who never did go to college (and burden themselves with student loan debt) – and yet are being asked now by Washington Democrats (and Republicans, by virtue of their ‘silence’ on these matters) to subsidize current student loan debt relief programs.
The Main Street America Republican plan would also prove out be a ‘hands-down’ major vote winner in the coming 2024 fall election.
The Leviticus 25 Plan – An Economic Acceleration Plan for America
$90,000 per U.S. citizen – Leviticus 25 Plan 2025 (11645 downloads )