, a state agency that offers private student loans to cover higher education costs, said a drop in revenue would affect its ability to offer new loans.
That entity oversees loans issued directly by the Education Department, known as Direct Loans, and privately held student loans backed by the federal government known as the Federal Family Education Loan program. Borrowers had been able to consolidate these FFEL loans into accounts directly owned by the Education Department, which then gives the federal government the ability to cancel borrowers’ debts.
It’s unclear if the department’s decision was tied to the lawsuit. But it's not the first time the Department has offered additional details about the debt cancellation program when facing a legal challenge., saying some borrowers would be hurt by the debt cancellation. Specifically, some states plan to tax the debt forgiveness, and the foundation, a libertarian-aligned law firm, argued that borrowers residing in those states would be harmed by widespread debt discharge.
But an injunction could affect the entire universe of borrowers eligible for loan forgiveness, roughly 40 million people.
Good!!!
Oh yeah !
Wish North Carolina was in the mix, but our Governor & AG spend all their time looking the other way on every issue.
Conservatives hate poor people
Repugs want to keep people as poor as possible to keep the rich with enough slaves ooops I mean workers
Good! Generally, a Biden supporter but this was a terrible decision on his part. He did not have the authority to make it. How can you declare it was an emergency during a period when full employment is causing terrible inflation? Just declared we are no longer in a pandemic.
RepubliCONS made because Biden is beating them at their own game🤷♂️
Promoting educated people allows one the ability to have critical thinking on complex issues that requires complex solutions. Politics recently creates “news” slogans masked as policies or issues. We need people able to understand, engaged and articulate what is presented.
Only Congress can do it. That's why you see Biden changing things up today. He knows he will lose
Where were the lawsuits when the rich & corporations get bailed out with taxpayers' $
Pay your debt. Period!
STOP the free handouts just to win elections
Republicans hate anything that helps the American people
They hate seeing working class people get a little relief
Why don’t they want us to know this?
Republicans against American students.
I thought Congress had to pass spending such money
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