ANALYSIS OF PRESIDENT BIDEN’S NEW PLANS FOR STUDENT LOAN DEBT RELIEF – APRIL 2024

[eman623]

Impeach Biden. He was already told he could not forgive student debt en-masse. Now he's just a repeat offender.

This is an analysis of Biden's illegal plan by the Wharton Business School.

Key Points

• President Biden recently announced five main provisions to provide student loan debt relief. Some of provisions are already mostly covered by President Biden’s SAVE plan introduced in 2023. Some provisions, however, are more incremental to the SAVE plan, including one provision---the forgiveness of longer-term debt---that expands eligibility to higher-income households.
• We estimate that the New Plans will cost $84 billion in addition to the $475 billion that we estimated for President Biden’s SAVE plan, for a total cost of about $559 billion across both plans.
• While the New Plans, like the SAVE plan, contain provisions to relieve debt based on individual or household income, the New Plans will also relieve some longer-term student debt for about 750,000 households making over $312,000 in average household income. The main reason for this high average household income is that the SAVE plan already provides long-term debt relief to households with lower incomes.

Analysis of President Biden’s New Plans for Student Loan Debt Relief – April 2024 — Penn Wharton Budget Model

We estimate that President Biden’s recently announced “New Plans” to provide relief to student borrowers will cost $84 billion, in addition to the $475 billion that we previously estimated for President Biden’s SAVE plan. Moreover, some debt relief in the New Plans accrues to borrowers in households

budgetmodel.wharton.upenn.edu

 

[mrjurrs]

Impeach Biden. He was already told he could not forgive student debt en-masse. Now he's just a repeat offender.

This is an analysis of Biden's illegal plan by the Wharton Business School.

Key Points

• President Biden recently announced five main provisions to provide student loan debt relief. Some of provisions are already mostly covered by President Biden’s SAVE plan introduced in 2023. Some provisions, however, are more incremental to the SAVE plan, including one provision---the forgiveness of longer-term debt---that expands eligibility to higher-income households.
• We estimate that the New Plans will cost $84 billion in addition to the $475 billion that we estimated for President Biden’s SAVE plan, for a total cost of about $559 billion across both plans.
• While the New Plans, like the SAVE plan, contain provisions to relieve debt based on individual or household income, the New Plans will also relieve some longer-term student debt for about 750,000 households making over $312,000 in average household income. The main reason for this high average household income is that the SAVE plan already provides long-term debt relief to households with lower incomes.

Analysis of President Biden’s New Plans for Student Loan Debt Relief – April 2024 — Penn Wharton Budget Model

We estimate that President Biden’s recently announced “New Plans” to provide relief to student borrowers will cost $84 billion, in addition to the $475 billion that we previously estimated for President Biden’s SAVE plan. Moreover, some debt relief in the New Plans accrues to borrowers in households

budgetmodel.wharton.upenn.edu

This is a good thing.

 

[Cardinal]

Impeach Biden. He was already told he could not forgive student debt en-masse. Now he's just a repeat offender.

This is an analysis of Biden's illegal plan by the Wharton Business School.

Key Points

• President Biden recently announced five main provisions to provide student loan debt relief. Some of provisions are already mostly covered by President Biden’s SAVE plan introduced in 2023. Some provisions, however, are more incremental to the SAVE plan, including one provision---the forgiveness of longer-term debt---that expands eligibility to higher-income households.
• We estimate that the New Plans will cost $84 billion in addition to the $475 billion that we estimated for President Biden’s SAVE plan, for a total cost of about $559 billion across both plans.
• While the New Plans, like the SAVE plan, contain provisions to relieve debt based on individual or household income, the New Plans will also relieve some longer-term student debt for about 750,000 households making over $312,000 in average household income. The main reason for this high average household income is that the SAVE plan already provides long-term debt relief to households with lower incomes.

Analysis of President Biden’s New Plans for Student Loan Debt Relief – April 2024 — Penn Wharton Budget Model

We estimate that President Biden’s recently announced “New Plans” to provide relief to student borrowers will cost $84 billion, in addition to the $475 billion that we previously estimated for President Biden’s SAVE plan. Moreover, some debt relief in the New Plans accrues to borrowers in households

budgetmodel.wharton.upenn.edu

Old (especially conservative) people really hate it when the needs of young people are met.

As for impeaching him...

 

[SNOWFLAKE]

The new rightwing vibrators - impeach ANYONE who you have a problem with, whether they committed a high crime or misdemeanor or not.

 

[eman623]

This is a good thing.

Sure, if you like dictators who rule by decree.

 

[mrjurrs]

Sure, if you like dictators who rule by decree.

It is legally accepted that Article 2 Section 1 is the Constit6utional basis for executive orders.

The first EO's were issued by George Washington.

4/88 issued 55 of them (did you call him a dictator?), while President Biden has issued 48. President William Henry Harrison is the only president not to issue an executive order during his term.

 

[eman623]

It is legally accepted that Article 2 Section 1 is the Constit6utional basis for executive orders.

EOs are only legal as long as they are within the law.

The SC ruled Biden does not have the authority to cancel student debt en-masse without congressional approval by EO.

That he is trying again is him being a dictator and ruling by decree.

He needs to be impeached.

 

[mrjurrs]

EOs are only legal as long as they are within the law.

The SC ruled Biden does not have the authority to cancel student debt en-masse without congressional approval by EO.

That he is trying again is him being a dictator and ruling by decree.

He needs to be impeached.

That is not what they ruled. They ruled that the process he used in that case was unconstitutional.

You don't really think that President Biden has only issued one student loan payback program do you?

 

[poweRob]

Impeach Biden. He was already told he could not forgive student debt en-masse. Now he's just a repeat offender.

This is an analysis of Biden's illegal plan by the Wharton Business School.

Key Points

• President Biden recently announced five main provisions to provide student loan debt relief. Some of provisions are already mostly covered by President Biden’s SAVE plan introduced in 2023. Some provisions, however, are more incremental to the SAVE plan, including one provision---the forgiveness of longer-term debt---that expands eligibility to higher-income households.
• We estimate that the New Plans will cost $84 billion in addition to the $475 billion that we estimated for President Biden’s SAVE plan, for a total cost of about $559 billion across both plans.
• While the New Plans, like the SAVE plan, contain provisions to relieve debt based on individual or household income, the New Plans will also relieve some longer-term student debt for about 750,000 households making over $312,000 in average household income. The main reason for this high average household income is that the SAVE plan already provides long-term debt relief to households with lower incomes.

Analysis of President Biden’s New Plans for Student Loan Debt Relief – April 2024 — Penn Wharton Budget Model

We estimate that President Biden’s recently announced “New Plans” to provide relief to student borrowers will cost $84 billion, in addition to the $475 billion that we previously estimated for President Biden’s SAVE plan. Moreover, some debt relief in the New Plans accrues to borrowers in households

budgetmodel.wharton.upenn.edu

 

[Ginger Ale]

So let me get this straight, you want to impeach a president for investing in our youth? Am I getting this right?

 

[eohrnberger]

Impeach Biden. He was already told he could not forgive student debt en-masse. Now he's just a repeat offender.

This is an analysis of Biden's illegal plan by the Wharton Business School.

Key Points

• President Biden recently announced five main provisions to provide student loan debt relief. Some of provisions are already mostly covered by President Biden’s SAVE plan introduced in 2023. Some provisions, however, are more incremental to the SAVE plan, including one provision---the forgiveness of longer-term debt---that expands eligibility to higher-income households.
• We estimate that the New Plans will cost $84 billion in addition to the $475 billion that we estimated for President Biden’s SAVE plan, for a total cost of about $559 billion across both plans.
• While the New Plans, like the SAVE plan, contain provisions to relieve debt based on individual or household income, the New Plans will also relieve some longer-term student debt for about 750,000 households making over $312,000 in average household income. The main reason for this high average household income is that the SAVE plan already provides long-term debt relief to households with lower incomes.

Analysis of President Biden’s New Plans for Student Loan Debt Relief – April 2024 — Penn Wharton Budget Model

We estimate that President Biden’s recently announced “New Plans” to provide relief to student borrowers will cost $84 billion, in addition to the $475 billion that we previously estimated for President Biden’s SAVE plan. Moreover, some debt relief in the New Plans accrues to borrowers in households

budgetmodel.wharton.upenn.edu

Observe the sequence of events here.

1. Student loans were issued by various private entities
2. Tuition costs were reasonably contained
3. Government takes over student loans, resulting in a free flow of government money
4. Colleges and universities hike their tuition prices, availing themselves of the free flow of government money
5. Even greater flow of government student loan money in response to the tuition hikes
6. Colleges and universities, pressed for ever more professors hire ideological extremists to fill the spots
7. Colleges and universities water down course content and standards for achieving a passing grade, as so many students aren't capable of achieving a passing grade
8. Between the ideological indoctrination and lowering standards, a college degrees now discounted as a measure to education and scholastic achievement and competence
9. Students find they can't pay back the student loans they agreed to
10. Students demand that the government 'forgive' (pass loan costs to tax payers)
11. Government passes loan costs to tax payers

Easily predictable, and was predicted, when the government took over the student loan business.

Government screws everything up it touches, passing the bill for their screw up to the tax payers.

How often do we need to see this fact arc repeat itself before we learn that Government screws everything up it touches?

To fix this, the government needs to exit the student loan business and leave it to Colleges and universities.
Colleges and universities should set the standards for the issuance of these student loans, and colleges and universities should put up their endowments as collateral against student loan defaults.

 

[j brown's body]

Sure, if you like dictators who rule by decree.

I suspect the Court forbade the method he used to forgive the loans and now Biden is using a different method.

Either way, the Court is so political now, their decisions are hardly about justice anymore. Our country is better off ignoring it.

 

[Cardinal]

Observe the sequence of events here.

1. Student loans were issued by various private entities
2. Tuition costs were reasonably contained
3. Government takes over student loans, resulting in a free flow of government money
4. Colleges and universities hike their tuition prices, availing themselves of the free flow of government money
5. Even greater flow of government student loan money in response to the tuition hikes
6. Colleges and universities, pressed for ever more professors hire ideological extremists to fill the spots
7. Colleges and universities water down course content and standards for achieving a passing grade, as so many students aren't capable of achieving a passing grade
8. Between the ideological indoctrination and lowering standards, a college degrees now discounted as a measure to education and scholastic achievement and competence
9. Students find they can't pay back the student loans they agreed to
10. Students demand that the government 'forgive' (pass loan costs to tax payers)
11. Government passes loan costs to tax payers

Easily predictable, and was predicted, when the government took over the student loan business.

Government screws everything up it touches, passing the bill for their screw up to the tax payers.

How often do we need to see this fact arc repeat itself before we learn that Government screws everything up it touches?

To fix this, the government needs to exit the student loan business and leave it to Colleges and universities.
Colleges and universities should set the standards for the issuance of these student loans, and colleges and universities should put up their endowments as collateral against student loan defaults.

Your taxes aren’t going up because of student loan forgiveness. I say this because that’s strongly implied in your post.

Also, your post reveals that you are only outraged for culture war reasons and not because of anything rational.

 

[Cardinal]

EOs are only legal as long as they are within the law.

The SC ruled Biden does not have the authority to cancel student debt en-masse without congressional approval by EO.

That he is trying again is him being a dictator and ruling by decree.

He needs to be impeached.

If he’s President then it’s an official at, he’s legally immune, and therefore there’s no “as long as they are within the law” argument.