The Price For Bad Decisions.

j-mac The Department of Education has tackled so much student debt already because Congress gave it a number of tools to do so. One of those tools is the Heroes Act, passed in the wake of 9/11. This law gives the secretary of education authority to “waive or modify” any provision of the law applicable to student aid programs “in connection with a war or other military operation or national emergency.” (Emphasis mine.) The secretary may exercise this power to “ensure” that borrowers “are not placed in a worse position financially” in relation to their loans because they were “affected” by the emergency. A “national emergency” is defined as any national emergency declared by the president. The ongoing COVID-19 pandemic surely qualifies, since Donald Trump declared it a national emergency and Biden has extended that declaration.
Good luck…the Congress has the authority of the purse, not the President.
This will be challenged in court and loose.

Even Pelosi says so…
 
GM didn't pay back all they owed. The banks didn't pay back all they owed. Corporate farms never were expected to.

Maybe the taxpayers should be sharing in their profits?
 

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