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Travic posted:So that's it then? Will appealing it accomplish anything? Appealing it will absolutely accomplish something. Biden's student debt forgiveness has already come to the Supreme Court twice, and both times they let it stand. They don't seem inclined to overturn it, so appealing it to them has a fair chance of being successful. And a summary judgement like this is obvious bullshit, even putting aside the ridiculous gymnastics this judge had to do to establish some sort of standing for the plaintiffs. Obviously, nothing's guaranteed, but so far the current Court doesn't seem to be against the student debt forgiveness.
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Nov 11, 2022 05:30
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Travic posted:Has the Supreme Court been ok with the forgiveness or have they just said, "Not going to get involved."? Honest question because I don't know. They've turned down the cases that have come to them - which lets the lower court's ruling stand. In both of the cases that have come to them to them so far, the challenge to debt forgiveness had been rejected by the lower courts, and so by turning the case down, the Supreme Court was allowing those rejections to stand. It only takes four justices to decide to hear the case, so that shows that even the conservative wing of the Court isn't particularly against the loan forgiveness. They wouldn't be able to do the same thing to let this ruling stand, because if the Eighth Circuit says student debt forgiveness is legal and the Fifth Circuit says it's illegal, then that's a circuit split and the Supreme Court pretty much has to get involved.
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Nov 11, 2022 17:35
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SchrodingersCat posted:Yeah, I was wondering why they couldn't pass it with budget reconciliation. I don't think it'd qualify for reconciliation unless it was paired with taxes or cuts somewhere else to make it deficit-neutral in the long run. In any case, Manchin's already gone on record calling the forgiveness plan "excessive" and insisting that debt forgiveness has to be "earned" through programs like PSLF.
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Nov 11, 2022 19:16
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buglord posted:What is the likelihood people start suing the new IDR changes now that the main forgiveness is dead? Anyone can try to file a lawsuit any time they want, but there's no guarantee that a court would give it the time of day. Payment plan changes are completely different from loan forgiveness.
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Jun 30, 2023 18:20
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VitalSigns posted:Yeah I remember I heard that before this lawsuit too If they meant to ask "Is the Supreme Court going to overturn IDR", I would have answered that question*. Instead, they asked "is someone going to sue", and that's the question I answered. *The answer, since I know that's what you're really getting at, is "probably not, but who knows?". Income-based repayment is completely different from loan forgiveness, and has plenty of precedent given that it's been around for over a decade and has been expanded by executive order multiple times already. The courts can rule whatever they want, but opposing loan forgiveness doesn't necessarily mean they'll think IBR expansion is too far.
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Jun 30, 2023 18:47
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Happy Noodle Boy posted:https://twitter.com/mstratford/status/1674870341636612098?s=61&t=fWsm-upldseXptBaVlet9Q There's more than one law that allows the executive branch some authority to modify or forgive student loans. The executive order that was struck down today was technically based on the authority granted by only one of those laws. So now Biden is doing another executive order to forgive student debt, based on another one of those laws. Practically speaking, it's just a do-over, with little expectation that anything will change. The same entities that sued to block the one before are going to sue again to block this one, the courts are going to issue an injunction just like they did on the first one, and it's inevitably going to make its way up to the Supreme Court who will almost certainly overrule this new one on exactly the same grounds they used to overrule the last one. The only real difference is that this one is a more annoying and time-consuming process with more hoops to jump through.
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Jun 30, 2023 21:51
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killer_robot posted:Yeah, was just pointing out that conservatives are openly contesting the refund of money given to fraudulent schools. Utter crock. Wouldn't be surprised if they go after the very notion of IBR next. Are they? It looks like the lawsuit was filed by a trade association of private for-profit universities, who insist that the rule exposes them to "unwarranted reputational injury and enormous financial liability". While some of them may indeed be politically conservative, their opposition doesn't seem to be particularly political.
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Aug 29, 2023 20:01
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Framboise posted:I hopped onto my MOHELA account to get my new bank account set up for repayment. No federal tax. PSLF is exempt from taxation. And any student loan forgiveness this year and next year is untaxed - the Dems passed a bill in 2021 that made student loan forgiveness untaxed until 2025.
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Sep 1, 2023 19:48
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BonoMan posted:So what's the status of the Supreme Court stuff? Are they appealing it? Supreme Court rulings can't be appealed. That ruling overturning the legal basis for the original loan forgiveness program is final. The administration pretty much immediately started working on a second loan forgiveness program, based on different legal processes and justifications that weren't covered by the first Supreme Court ruling. However, the new strategy is more time-consuming, with stuff like mandatory comment periods slowing things down, so we're not going to hear anything more about it until next year. And once it's done, it's inevitably going to be put on hold by legal challenges which will make their way up to the Supreme Court.
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Sep 3, 2023 17:25
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i say swears online posted:is that one of those programs which should be extended indefinitely or do I have a $30,000 tax bill coming my way a couple years after that? If your forgiveness is coming through PSLF or a similar program, then you're fine - those have been tax-free since the day it was created. If your forgiveness is coming through a income-based repayment plan or something else, well, that's up to whoever holds Congress in 2025. The Dems will probably extend it if they hold Congress (especially if Biden wins reelection), the GOP almost certainly won't.
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Sep 3, 2023 19:49
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