Supreme Court Halts Student Loan Bailout

The Biden regime got what it wanted — the imbecilic Gez Z voter, rendered incapable of critical thought by the very college education they expected the working class to pay for.

Supreme Court Will Hear Student Loan Case

Justices freeze loan forgiveness for now, but will hear arguments on the merits in February.

By: Associated Press, December 1, 2022:

Story continues below advertisement

While the Supreme Court on Thursday did nothing to unblock the Biden administration program to cancel student loans, the justices agreed to take up the case in late winter.

The court’s decision to hear arguments in about three months means it is likely to determine whether the widespread loan cancellations are legal by late June. That’s about two months before the newly extended pause on loan payments is set to expire.

The administration had wanted a court order that would have allowed the program to take effect even as court challenges proceed. As a fallback, it suggested the high court hold arguments and decide the issue.

President Biden’s plan promises $10,000 in federal student debt forgiveness to those with incomes of less than $125,000, or households earning less than $250,000. Pell Grant recipients, who typically demonstrate more financial need, are eligible for an additional $10,000 in relief.

The Congressional Budget Office estimates that the program will cost about $400 billion over the next three decades.

More than 26 million people already applied for the relief, with 16 million approved, but the education department stopped processing applications last month after a federal judge in Texas struck down the plan.

The Texas case is one of two in which federal judges have forbidden the administration from implementing the loan cancellations.

In a separate lawsuit filed by six states, a three-rider panel of the Court of Appeals for the Eighth Circuit at St. Louis also put the plan on hold, and that case is before the Supreme Court.

The moratorium had been slated to expire January 1, a date that Mr. Biden set before his debt cancellation plan stalled in the face of legal challenges from conservative opponents.

The new expiration date is 60 days after the legal issue has been settled, but no later than the end of August.

Conservative attorneys, Republican lawmakers, and business-oriented groups have asserted that Biden overstepped his authority in taking such sweeping action without the assent of Congress. They call it an unfair government giveaway for relatively affluent people at the expense of taxpayers who didn’t pursue higher education.
Keep reading…..

The Truth Must be Told

Your contribution supports independent journalism

Please take a moment to consider this. Now, more than ever, people are reading Geller Report for news they won't get anywhere else. But advertising revenues have all but disappeared. Google Adsense is the online advertising monopoly and they have banned us. Social media giants like Facebook and Twitter have blocked and shadow-banned our accounts. But we won't put up a paywall. Because never has the free world needed independent journalism more.

Everyone who reads our reporting knows the Geller Report covers the news the media won't. We cannot do our ground-breaking report without your support. We must continue to report on the global jihad and the left's war on freedom. Our readers’ contributions make that possible.

Geller Report's independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe our work is critical in the fight for freedom and because it is your fight, too.

Please contribute here.

or

Make a monthly commitment to support The Geller Report – choose the option that suits you best.

• $25.00 here
• $50.00 here
• $75.00 here
• $100.00 here
• $250.00 here

5 1 vote

Article Rating

6 Comments

Oldest

Newest Most Voted

Inline Feedbacks

View all comments

Kuffar

1 year ago

Slow Joe DENIED.

1

Snowedin

1 year ago

This is good. IF you take out a loan then you should have to pay it back. Maybe they will expand this to house and car loans as well.

1

D

Don39

1 year ago

Everything the corrupt idiot has done is illegal and will eventually find its way to the court!

2

Snowedin

1 year ago

Reply to  Don39

It depends who is presiding over the court.

1

D

Laddyboy

1 year ago

I remember the conversation between a Farmer and a Senator Davy Crockett. The conversation ended with the conclusion that Government IS NOT RESPONSIBLE to support INDIVIDUALS. The JOB of Government is to PROVIDE SAFETY, FREEDOM and SAFEGUARD the RIGHTS of American Citizens!!!!!!

1

D

Miffed52

1 year ago

This is ‘not just a ‘bailout’ or a ‘loan forgiveness’. It is transferring the debt to the American taxpayers…taxpayers who never signed for the loan or ‘co-signed’ for it. The Biden Administration says it is a great thing as it will ‘help’ decrease the debt owned by students, but what they are not telling us is that it will add to the national debt and that will increase the inflation problems we already have.
The promise of student loan ‘forgiveness was used to ‘buy’ votes and nothing more. The Left knew it would never fly but are, now, ‘going through the motions’ simply to make it look like they are trying. When it fails they will blame the ‘mean ol’ republicans’ for the failure even though they knew it was doomed from the start.
When I was growing up I was taught that any loan or debt I incurred…was ‘my personal responsibility’ to pay off and no one else’s, but that means ‘work’ and some sacrifices will have to be made. ‘Work’ seems to be one of ‘those four letter words’ that some people do not want to hear and to ‘sacrifice’ a few pleasures to pay off a loan that was taken out…is just ‘too much’ for some.
Some people want to say that these ‘students’ are being denied the ‘American Dream’ because of these loans. Wrong…the ‘American Dream’, as it’s called, was formulated on the idea of ‘working’ for what you want and sometimes you will have to work hard to get it. It is about ‘earning’ your way in society and being a useful contributor and member of society…’not’ having the society or government take care of you as something socialism will do, but…socialism has never worked and history bears that out. If you look at those who want socialism or think it’s great…you’ll see that they don’t contribute much to society to begin with.
“When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work, because somebody else is going to get what they work for, that my dear friend, is the beginning of the end of any nation.”—Adrian Rogers

0