Democrats can try to be dictators also
The President does not have the power to unilaterally cancel student debts across the board -- there is no legal argument in favor of this power that rests on either the plain language of a statute or the intent of Congress. President Biden himself has been quoted as saying he doesn't have the power to do this. Speaker Pelosi has been quoted as saying the President doesn't have the power to do this. Congress could've done this as part of the Inflation Reduction Act or the doomed Build Back Better Act, but it chose not to do so.
Yet people with student debts have been pestering Biden to cancel their debts, because, they don't like having debts, so with the midterm elections approaching he finally gave in and announced student debt cancellations of up to $20,000 for families making less than $250,000.
None of these cancellations will take effect until after the midterm elections, and if you're an excited student borrower I'd advise you not to count these chickens until they survive a challenge in federal court all the way up to the Supreme Court, which could take until summer of 2024 or even 2025 to resolve. Remember that Supreme Court that is dominated by conservative Justices? Think they'll want to let a President unilaterally cancel debts on his whim?
This is Biden cynically trying to buy your vote for Democrats in November. There's going to be millions of sad student debtors when the Supreme Court strikes this down. I'm surprised so many people are falling for this ploy.
Yet people with student debts have been pestering Biden to cancel their debts, because, they don't like having debts, so with the midterm elections approaching he finally gave in and announced student debt cancellations of up to $20,000 for families making less than $250,000.
None of these cancellations will take effect until after the midterm elections, and if you're an excited student borrower I'd advise you not to count these chickens until they survive a challenge in federal court all the way up to the Supreme Court, which could take until summer of 2024 or even 2025 to resolve. Remember that Supreme Court that is dominated by conservative Justices? Think they'll want to let a President unilaterally cancel debts on his whim?
This is Biden cynically trying to buy your vote for Democrats in November. There's going to be millions of sad student debtors when the Supreme Court strikes this down. I'm surprised so many people are falling for this ploy.