June 30, 2022

Joe Biden dashes dreams of using executive power to forgive student debt

President-elect Joe Biden made a number of promises and proposals during his 2020 run for the presidency, with one of those being his focus on helping college students by canceling a portion of their student loan debt, which was a page taken straight out of the progressive playbook.

According to Marketwatch, Biden probably won over plenty of students with such a promise, but in a recent interview with the Washington Post, Biden backtracked to some degree, questioning the legality of using his executive power to magically erase such debts. 

“I’m going to get in trouble for saying this, [but] it’s arguable that the president may have the executive power to forgive up to $50,000 in student debt,” Biden said. “Well, I think that’s pretty questionable. I’m unsure of that. I’d be unlikely to do that.”

College students who voted for Biden — based on his promise to help them eliminate student loan debt — might be having a bit of buyer’s remorse by this point, as Sen. Elizabeth Warren (D-MA) and Sen. Bernie Sanders (I-VT) both used the proposition of canceling student debt as a cornerstone of their campaigns, which ultimately fizzled out.

Attorneys from Harvard Law School’s project on Predatory Student Lending supported Warren’s student loan debt cancellation strategy at the time, arguing in a letter that the president has the ability to do so by directing the Secretary of Education to make the move.

“Congress has granted the Secretary a more specific and unrestricted authority to create and to cancel or modify debt owed under federal student loan programs in the Higher Education Act (HEA) itself,” the Harvard lawyers wrote at the time.

Critics of canceling debt argue that pulling the trigger on such an action would likely result in a number of lawsuits initiated by lending institutions, not to mention that it would likely be a violation of the Anti-Deficiency Act, which makes it illegal to spend money that a government agency doesn’t have.

If Biden doesn’t follow through on his promise to help college students, they might just have to resort to paying their student loan debt the old fashioned way, like the rest of us did — by working hard and/or joining the U.S. military.

Share on facebook
Share on twitter
Share on linkedin
0 0 votes
Article Rating

This is a demo advert, you can use simple text, HTML image or any Ad Service JavaScript code. If you're inserting HTML or JS code make sure editor is switched to 'Text' mode.

Notify of
Inline Feedbacks
View all comments

ADD Link (@guest_1204893)
1 year ago

Hi! I have just purchased a boat and I am looking for lanyards in Alabama, do you know were could I purchase them? Bye!

Add Link (@guest_1205379)
1 year ago

You made several nice points there. I did a search on the matter and found most people will go along with with your blog.

Links.M106.COM (@guest_1205669)
1 year ago

I thought it was gonna be some boring old publish, but it in truth paid out for my time. I will article a link to the page in my weblog. I am sure my personal guests will unearth that invaluable. . . .

Darmowe Ogłoszenia Pianino (@guest_1207973)
1 year ago

Great article, my partner and i appreciate the share, one thing, would you explain to me where you got this kind of theme? was it totally free or perhaps paid?

Pianino.XMC.pl (@guest_1208166)
1 year ago

Ive got to say, the layout alone made me come back to this web page again. But now that Ive read what youve got to say, Ive got to share it with the world!

Javiernop (@guest_1235144)
1 year ago

browse tinder for free , tindr
tinder website

Javiernop (@guest_1247369)
1 year ago

tinder app , tinder sign up
how to use tinder

viral (@guest_1263280)
1 year ago

Unquestionably consider that that you stated. Your favourite reason appeared to be at the
wweb the easiest thing to take into account of.
I say to you, I definitely gett annoyed whilst
peopl consider issues that tuey just don’t recognise about.
Youu controlled to hit the nail upon the highest as smjartly as outlined out the whole thing with
no need side effect , people coould take a signal. Willl probably be again too get more.
Thank you



Sign Up For The Daily Newsletter


Would love your thoughts, please comment.x