I told you so last year.
https://mycreditplan.org/Blog/what-to-do-with-your-student-loans
Biden’s student loan relief disappeared like a bubble in a gusty wind. Giving something for nothing in return makes no practical sense. Now, President Joe Biden has put more people in a bad situation by giving them a false hope for something that the Courts determined has to be approved by Congress.
Imagine what the Biden administration was wanting. They wanted to be able to spend money whenever they want, to however they want and to whoever they want. The Supreme Court said it is the Congress’s responsibility to do that. In fact, President Biden when he was in Congress spoke about the responsibility for the budget remains with the Congress. Now he’s president, he thinks it does not apply to him. Now President Biden said that the Court “misinterpreted the Constitution.” What part of the Constitution says that? I’m looking -- and I am sure I will still be looking at the end of Biden’s term. There is NOTHING in the Constitution that says anything about student loan debt.
There is none. Biden was trying to buy votes. This was stupid policy that was going nowhere.
Let’s look at who Biden was trying to help.
Former New York state Democrat Sen. Alessandra Biaggi, who purchased a $1.2 million home recently, took to social media to complain about the Supreme Court’s decision, "In 2012, I graduated from Fordham Law School with $180,000 is student loan debt, (and) I’ve been paying loans for 11 years. Even paid two of them off completely. In 2023, my balance is $206,000.”
Who responsibility is it to pay your debts? Every American taxpayer? I don’t ask others to pay my debts. My debts are my debts to pay, and your debts are your debts to pay. Someone who supposedly got a law education almost assuredly is demonstrating that she didn’t get much of a quality education about the Constitution.
From then House Speaker Nancy Pelosi,
“People think that the President of the United States has the power for debt forgiveness. He does not. He can postpone. He can delay. But he does not have that power. That has to be an act of Congress."
That pretty well says it all. So why is anyone complaining?
For those with student loan debt who want the government to take this responsibility from them – don’t ask other people to pay your own debts unless you are willing to pay theirs? You signed on the bottom line, not the American taxpayer. You pay your debts even if you have to pick up a second and even a third job. I, along with many others have too. That is America.
That is only fair - and the U.S. Supreme Court confirmed it.
There are other methods Congress can look at to help students work off their student loan debt. Just forgiving that debt without something in return - is not an option.