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The Supreme Court rejects Biden's plan to wipe away $400 billion in student loan debt (apnews.com)

submitted 1 year ago by NightOwl@lemmy.fmhy.ml to c/worldnews@lemmy.ml

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[-] howdy@thesimplecorner.org 1 points 1 year ago* (last edited 1 year ago)

Trump was merely the vessel that ~~palaptine~~ SCOTUS used to take their power..

[-] Floon@lemmy.ml 1 points 1 year ago* (last edited 1 year ago)

Roe, Affirmative Action, LGBTQ protections, this is why you should vote in every election, including (perhaps especially) midterm elections. It's the composition of Congress that makes these things happen, and you can't pass on voting if you want to prevent it.

[-] zipdog@lemmy.world 1 points 1 year ago

Can anyone clarify if this strikes down Biden's plan in it's entirety or just the lump s forgiveness? TBH I always considered the rest of the plan that fixes ballooning interest and unaffordable monthly payments the meat of this plan. The 10k is just meh and isn't really fixing anything long term. Would be really unfortunate if the former got screwed by the latter

[-] MattyXarope@lemmy.world 0 points 1 year ago

Sucks

[-] drewisawesome14@lemmy.world 0 points 1 year ago* (last edited 1 year ago)

Hope y’all are ready for another once in a lifetime market crash.

Prices still haven’t gone down from the pandemic era but wages have stayed stagnant. People are barely getting by as it is, but now they have another 2-600 monthly bill added on top of everything else?

Guess we didn’t learn a thing from 2008.

[-] butwhyishischinabook@lemmy.world 0 points 1 year ago

Lol I made the mistake of going back to grad school, so more like $2500-$3000 a month for me

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[-] ramblechat@lemmy.world 0 points 1 year ago

I don’t have kids but am perfectly happy to pay more tax to make education free or cheaper. How can anyone argue that a less educated society is better? The more people that can experience higher education is plainly a good thing. There could be someone out there who could make a medical or technological breakthrough but doesn’t get the chance because they can’t afford to go to college.

[-] Lev_Astov@lemmy.world -1 points 1 year ago

I think the main argument is that this isn't the way to go about that. The universities are totally out of control and need to be forced to curb their spending to make things more affordable before we just start handing them public funding like this.

[-] DontTreadOnBigfoot@lemmy.world 1 points 1 year ago

Well I think this move is only going to hurt people in the short run, it was just asking for further dive in a recession, I do agree with this sentiment of it.

Tuition prices are absolutely insane. Colleges and universities are spending money on ridiculous nonsense, and that needs to be reigned in severely before Just throwing billions more taxpayer dollars at them.

That said, these funds weren't going to the universities. They were going to the banks, so cutting this off isn't going to influence tuition rates in any way.

[-] wslack@lemmy.world 1 points 1 year ago

need to be forced to curb their spending to make things more affordable

How? Students are choosing more expensive places. The market is driving this.

[-] KairuByte@lemmy.world 0 points 1 year ago

I don’t really think anyone in the government has a good solution for this, do they?

Remove the available money? Only the rich go to college. Add more money? The prices go up.

You could try regulating it, but then you just get colleges that refuse to accept government money, while simultaneously asking for the same amount.

I’m sure someone has a solution that would work, but it’s not anyone with the power to implement it, that’s for sure.

[-] freo3579@lemmy.world -1 points 1 year ago

just make public universities cheaper, private sector will feel the competition and lower prices.

[-] KairuByte@lemmy.world -1 points 1 year ago

I honestly don’t think so. Private universities are already more expensive, why would they care if that gap widened more?

[-] cyd@vlemmy.net -1 points 1 year ago

I know this upsets a lot of people, but the ruling isn't without justification. $450B++ in government spending should not be accomplished through a legal loophole. (Quite aside from the fact that fiscal stimulus is the last thing the economy needs right now.)

[-] KingCyrus20@lemmy.fmhy.ml 0 points 1 year ago* (last edited 1 year ago)

It is absolutely without justification. The language of the HEROES Act allows the Secretary of Education to "waive or modify any statutory or regulatory provision applicable to the student financial aid programs under title IV of the Higher Education Act of 1965." This is not a loophole, it is the law, passed by Congress. And regardless of any foreseen impact on the economy, SCOTUS should not legislate. Otherwise, they're just an activist court.