Resident Biden, leading up to the midterms, loudly and boldly announced HE is forgiving the student loans of specific students with outstanding loans.
When he first announced this scheme, it was criticized as being unconstitutional, because he doesn't have the authority to forgive debts owed to the banks carrying the debt. In fact, "forgiveness" is a misnomer. He wants to pay off a portion of the student loan using tax payer monies. That's a gift from the government to a select group of borrowers. Nothing more. The borrowers will still be on the hook for the remaining balance of their loans, some upwards of 3-5 times what would have been paid for. The lenders would get all that money, so nothing was "forgiven."
Additionally, it would shift the burden of paying those tuitions and other school costs from the people who promised to pay it back to ALL tax payers, most of whom did not take out such loans. Joe the Plumber and Jane the Waitress will be paying for Miranda the Twitter Censor's student loans while being unable to afford to send their own kids to college. Not even close to fair.
Now, a federal judge in Texas has ruled OFFICIALLY Biden's loan forgiveness scheme is unconstitutional. Big shock -- not! Most people already saw this for what it was -- a midterm election promise to throw tax payer money at you if you Kept the Dems in power.
Federal Judge Strikes Down
Student Loan Forgiveness ProgramA federal judge in Texas handed the Biden administration a defeat, declaring the
student loan forgiveness plan unconstitutional. U.S. District Judge Mark Pittman
ruled in favor of two plaintiffs who sued the government after they failed to qualify
to have $10,000 in student loans forgiven.
Pittman said that President Joe Biden overstepped his constitutional authority
when he authorized the Department of Education to forgive loans for borrowers
who earn less than $125,000 a year.
"The program is thus an unconstitutional exercise of Congress's legislative power
and must be vacated," wrote Judge Mark Pittman. "In this country, we are not ruled
by an all-powerful executive with a pen and a phone."
The Biden administration has stopped taking applications while the Justice Department
appealed the ruling.