Update on Biden's Student Loan "Forgiveness" Program
Washington, D.C., November 14, 2022
As promised, here’s a brief update on President Biden’s effort to transfer other people’s student loan debts to you, the taxpayers.
Remember I was all over this issue last spring and summer, calling it unfair, unethical, and illegal. I’m not unsympathetic to those who have student loans. But for those who borrowed money from the federal government and spent it on an education – which they received – it was shockingly inappropriate for this president to come along and try to force other people to pay back those loans, most of whom never pursued a college education!
Anyway, as fully expected, a U.S. District Court struck down Biden’s effort this past Thursday, calling it an “unconstitutional exercise of Congress’s legislative power.” That’s a polite way of saying Biden deliberately overstepped his authority.
Separately, last month, the 8th Circuit Court of Appeals placed an “administrative hold” on the President’s program while it considered a lawsuit that had been filed by several states. And earlier today, after further consideration, that same Court of Appeals granted a formal injunction which blocks Biden from moving forward while the case plays out in court.
Here’s what to expect moving forward…
As I mentioned back in August, this is something that will ultimately need to be settled in court, and it’s going to be a long while before all those avenues have been exhausted.
However, I’d be surprised if the Biden Administration vigorously tried to defend this going forward. After all, I believe this was nothing more than a vote buying scheme right before the election, which is now behind us. And second, the President himself and his advisors know this was illegal and won’t hold up in court.
The White House will put forth some half-hearted effort to overturn the injunction, just to save face. Ultimately, however, the courts will likely confirm what we all know to be true: this was an inappropriate, unconstitutional overreach by the President.