Official Student Debt Cancellation Watch Thread

[FAH1223]

Everyone knew this would be challenged and everyone knew there was a strong chance scotus would overturn it.

 

[Pressure]

The Supreme Court has already shown that precedent doesn’t matter and they are effectively above the law

 

[PoorAndDangerous]

If these old fukks cost me 20k

 

[Spidey Man]

The Supreme Court has already shown that precedent doesn’t matter and they are effectively above the law

At this point I hope Biden just postpones it for the next 100 years. Gonna have to get a blue wave and get enough seats in Congress to get this and single payer healthcare

 

[Slim]

At this point I hope Biden just postpones it for the next 100 years. Gonna have to get a blue wave and get enough seats in Congress to get this and single payer healthcare

Asking out of ignorance here, but is that possible?

Could federal student loans just be paused for an indefinite time?

 

[Spidey Man]

Asking out of ignorance here, but is that possible?

Could federal student loans just be paused for an indefinite time?

Yes and no. Biden can pause it for as long as he wants, but the next president could overturn it at any moment.

Congress would be the best way and there's nothing the supreme court could do about it, but it'll take at least 60 Senate votes

 

[AquaCityBoy]

At this point I hope Biden just postpones it for the next 100 years. Gonna have to get a blue wave and get enough seats in Congress to get this and single payer healthcare

Man calm the fukk down.

 

[intra vires]

 

[Payday23]

They shouldn't have built their business on student loans

 

[Mr swag]

At this point I hope Biden just postpones it for the next 100 years. Gonna have to get a blue wave and get enough seats in Congress to get this and single payer healthcare

He can’t. National Emergency ends in May

 

[Mr swag]

Yes and no. Biden can pause it for as long as he wants, but the next president could overturn it at any moment.

Congress would be the best way and there's nothing the supreme court could do about it, but it'll take at least 60 Senate votes

No, national emergency ends in May.

 

[T’Challa’s Heir]

I think they should probably lose on standing grounds. Assuming the injury is people not refinancing student loans.

1) people are still free to refinance right now.
2) if the government, says fukk and drops the rate to 0%, wouldn’t that have a near identical effect, if the interest rate is their selling point
3) are student loans a substantial enough portion of its revenue

Or I think it gets punted and dismissed as moot in May

 

[Serious]

I think they should probably lose on standing grounds. Assuming the injury is people not refinancing student loans.

1) people are still free to refinance right now.
2) if the government, says fukk and drops the rate to 0%, wouldn’t that have a near identical effect, if the interest rate is their selling point
3) are student loans a substantial enough portion of its revenue

Or I think it gets punted and dismissed as moot in May

SoFi was known for having the best and lowest rates for refinancing

 

[T’Challa’s Heir]

SoFi was known for having the best and lowest rates for refinancing

I know that’s what they’re known for and what they got started w/ back in 2011, but wasn’t sure what their portfolio looked like currently. If it turns out despite being known as student loan company, student loans are only like 5% of their revenue, it would cut into their standing argument.

 

[Remy LeBreh]

What ever happened with the Supreme Court making a decision on this? Seems it has totally left the news cycle.