Biden's student debt "forgiveness" plan is still tied up in court. The US Supreme Court has agreed to hear the case on Feb. 28, 2023.
Those who owe this debt are still waiting for the government to decide if a portion of their debt can be erased from their responsibility, and put on the backs of the US taxpayers.
Last year, on November 10th, 2022, 2 days after our national election day, and just past the time to let those gullible and vulnerable voters know that student debt forgiveness was ruled unlawful, a US District Judge ruled that Biden’s debt forgiveness plan flopped, and has been overruled by a US District court.
And Friday Nov. 11th, 2022 the Biden admin ceased to accept applications for federal student loan forgiveness so those who were holdouts and were hoping that their student debt, or a portion of their student debt, was going to be forgiven should not even bother to apply anymore.
Some who think they may have gotten past the preliminary round of the application process are still holding out..
So the College loan debt of $1.75 TRILLION dollars for a college education where only 46% of those who graduate work in their field of study is still owed by those who borrowed it, for now.
So all this to say is that 40 million borrowers, who may have paused paying their student loans back, are waiting until Feb 28th, well, into March 2023 to see what the Supreme Court says.
This is snagged up I court for now, but going beyond the legal question of this debt “forgiveness”, it’s also important that we address the ethical and moral aspect of this horrible idea.
If a student borrowed money to go to college and thought it was a good idea to borrow it, or were under pressure from their parents to borrow it, if have any ethical responsibility, any sense of moral duty, they should pay it back.
To ask the American taxpayer, many who did not attend college but yet are paying taxes, to pay their debt is unethical, and putting their debt burden upon someone who did not go to college, or someone who did go to college and paid for it…. Is stealing. It’s taking what is not rightfully theirs, and asking someone else, the American taxpayer, to take on this debt and pay it back for them.
And many of those who want to defend this debt that was perceived to be put upon them unfairly say these young adults borrowed the money when they were young and they didn't really know what they were doing, maybe their parents helped them go into debt by taking out these large loans, etc., and they just didn't understand what they were doing.
We understand that. The federal college loan program is absolutely corrupt and predatory on younger people who don't understand what debt will do to their lives.
The real answer is to stop the federal student loan program altogether. That’s the real answer. It was never the intent of the founders of our nation, nor is it in the US Constitution or the Rill of rights, that the government should pay for an individual's college education.
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