Biden cancels $72 million in student loan debt for borrowers who went to for-profit Ashford University | CNN Politics
Even though President Joe Biden’s student loan forgiveness program was blocked by the Supreme Court earlier this year, his administration is moving forward with more targeted student debt cancellations allowed under existing programs.
I am shocked and dismayed that the Biden Administration is not following the law.
I work in an industry where I see people’s credit reports and qualify them for loans. I was given a letter yesterday from a client that she just received from NelNet/DOE that said her $60k+ student loans on her credit report were forgiven, the new balance is $0 and she owes no more payments. The letter went on to say it was thanks to the Biden/Harris administration. THIS is how the left is campaigning for 2024! I shook my head in dismay and totally agree that this can’t be legal but I was looking at it in writing.
Additionally, the “Biden/Harris“ administration has made sure that these people will also not pay taxes on the forgiven money like homeowners did during all the short sales in 2007/2008!
So disgusted.
Follow up on her credit report in a year or two. The tax bill from this loan forgiveness is going to hit these people like a ton of bricks.
Google this student loan forgiveness plan, and you will find that they have safe guards in place that prevent the borrower from being taxed on the forgiven amount! That’s the part that irritates me the most
I know the last plan had this in it and it wouldn’t surprise me in the least. How has this not been challenged yet especially after flying in the face of the last Supreme Court ruling…
I feel like they’re just trying to overwhelm the justice system with all the crap they’re pulling.