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But it wasn't just Pelosi that said it. Almost all Republicans and scholars said it. It's just Pelosi was the only leader in her party that said the truth on camera while the rest were going along Biden's lies including the media.Biden ran in the midterms with that lie and many voters voted Democrat because of it.
That lie with the vaccine lie that you can't get COVID or spread it with the vaccine disqualifies him from running for re-election.
These people should be mad at Biden not the S.C. When Democrats had a SUPER MAJORITY with Obama they could have passed it but did nothing. Biden lied and these people believed him and they are supposed to know Civics 101 and they don't and expect the rest of us to pay their college loans. Hell No!
Biden himself could have pushed a Law helping the Student Loans — Democrats held House, Senate & Executive for 2 years. Of course Obama could have done it also- he USED those Student Loans to finance Obamacare. It is the Congress that sets the Interest rates,
Quote:
Originally Posted by stone26
Honest question here...is THAT really when no bankruptcy was written into student loans? I was always under the assumption that it was always like that, even when it was the gov't backing private student loans.
It’s a bit complicated— we have 3 Laws that affect Student Losns . 1958, 1965, and the one after 9/11 ( which was intended for military). In all cases of FEDERAL Guarantees on Student Loans, they were intended for the Low income AND the Government guaranteed the Loans that Banks made under those programs. In case of default, the Government made the Loan good — No Bankruptcy. These were small ( in todays terms) Loans - $3,000-$5,000 or so + criterial and performance that had to be satisfied.
Basically- Middle Class families didn’t Qualify, so that had to go through a Bank for a
College Loan and provide collateral/signature to pay it back. Those Loans could go through Bankruptcy.
After the 2010 Law that took control of ALL Student Loans, there was no Bankruptcy Option.
Banks were no longer allowed to write a Student Loan AND there was no qualification, no criteria, no real Limit to the Loan. Desperate Parents and Students had no real idea what they were signing up for — Universities pushed these Loans and got RICH. It just seemed soooo perfect, and soooo easy.
I truly feel sorry for some who got sucked into this — BUT, it’s Erong to expect those of us who worked our way through College (which I did in the late ‘60’s) or those that Saved and Scrimped for years to make sure our kids could go to College ( which we also did) ….. to pay for those who didn’t work, didn’t Save and now want ME and my Kids to pay for them. It was a Fraudulent Promise by Joe Biden to cancel something he was instrumental in putting in place and to make that
Campaign Promise to gain VOTES.
Biden himself could have pushed a Law helping the Student Loans — Democrats held House, Senate & Executive for 2 years. Of course Obama could have done it also- he USED those Student Loans to finance Obamacare. It is the Congress that sets the Interest rates,
It’s a bit complicated— we have 3 Laws that affect Student Losns . 1958, 1965, and the one after 9/11 ( which was intended for military). In all cases of FEDERAL Guarantees on Student Loans, they were intended for the Low income AND the Government guaranteed the Loans that Banks made under those programs. In case of default, the Government made the Loan good — No Bankruptcy. These were small ( in todays terms) Loans - $3,000-$5,000 or so + criterial and performance that had to be satisfied.
Basically- Middle Class families didn’t Qualify, so that had to go through a Bank for a
College Loan and provide collateral/signature to pay it back. Those Loans could go through Bankruptcy.
After the 2010 Law that took control of ALL Student Loans, there was no Bankruptcy Option.
Banks were no longer allowed to write a Student Loan AND there was no qualification, no criteria, no real Limit to the Loan. Desperate Parents and Students had no real idea what they were signing up for — Universities pushed these Loans and got RICH. It just seemed soooo perfect, and soooo easy.
I truly feel sorry for some who got sucked into this — BUT, it’s Erong to expect those of us who worked our way through College (which I did in the late ‘60’s) or those that Saved and Scrimped for years to make sure our kids could go to College ( which we also did) ….. to pay for those who didn’t work, didn’t Save and now want ME and my Kids to pay for them. It was a Fraudulent Promise by Joe Biden to cancel something he was instrumental in putting in place and to make that
Campaign Promise to gain VOTES.
Yep, which is why they did it. Too easy and too lucrative not to.
Biden is wrong on all fronts. He has been in politics 40 years, he ought to know the law by now that the president does not have the authority to forgive this much money - it has to go to congress.
2nd, he keeps saying that Republicans snatched the money just waiting for the borrowers. It was the Supreme Court that did it and they are neither represent as Repub or Dem.
so the Supreme Court has the final decision. Biden thinks he can try again. but if the Supreme Court declares this is not going to happen, then Biden will have to accept the loss.
So Biden says he had the money and then it was snatched out of his hand. but he did not have the money in the first place.. its like me standing in Tiffany's in NY, and saying to someone "I have all this jewelry sitting on these shelves and I'm about to give it to you, i haven't purchased the jewelry,, but i'm ready to hand it to you, and nope, i cant because Tiffinay's snatched it out of my hand. YOU CANT DO THAT.. its not yours!
Does tge Republicans today even have any platforms other than to oppose?
What do they stand for other than Trump?
Out of touch Boomers will be pushing up daisies in a few years anyway. The Republicans are not concerned with expanding their tent. They rather focus their energy on rigging elections, but people are not dumb. They are not buying it.
22 should have been an easy win for Republicans but instead of trying to making a positive change in people's lives, they decided to re- litigate passed elections.
Does tge Republicans today even have any platforms other than to oppose?
What do they stand for other than Trump?
Out of touch Boomers will be pushing up daisies in a few years anyway. The Republicans are not concerned with expanding their tent. They rather focus their energy on rigging elections, but people are not dumb. They are not buying it.
22 should have been an easy win for Republicans but instead of trying to making a positive change in people's lives, they decided to re- litigate passed elections.
Keep focusing on the past Republicans
Democrats held the House, Senate, and White House from Jan 2020 until Nov 2022 when the GOP won back the house by a slim margin.
Why didn’t the Dems push through student loan debt forgiveness during that time?
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These people should be mad at Biden not the S.C. When Democrats had a SUPER MAJORITY with Obama they could have passed it but did nothing. Biden lied and these people believed him and they are supposed to know Civics 101 and they don't and expect the rest of us to pay their college loans. Hell No!
