It looks like we are back to square one with Biden’s latest student loan giveaway plan.
Michigan District Judge Thomas Ludington, a Bush-appointed judge, ruled on Monday that the lawsuit that had been filed by Cato Institute and the Mackinac Center for Public Policy does not have standing.
This means Biden’s $39 billion bailout can now proceed.
Give It Away
“No standing” seems to be liberal and RINO judges’ favorite excuse to disqualify lawsuits that will challenge anything the Biden administration is putting out there.
After the decision was announced, Joe Biden took a victory lap.
He stated, “On Day One of my Administration, I promised to fight for hardworking families and to fix problems in the student loan system that have been failing borrowers for too long.
“I’m proud that my Administration is delivering on that promise and has already approved over $116 billion in debt cancellation for 3.4 million Americans – no matter how many lawsuits, challenges, or roadblocks Republican elected officials or special interests put in our way.’
But it is not debt cancellation.
Now that $39 billion gets added to all of our tax bills.
The rule forgives loans for 804,000 people, but it will not end there if it is permitted to stand.
Biden stated, “Under these plans, if a borrower makes 20 or 25 years’ worth of payments, they get the remaining balances of their loans forgiven.”
So, now the plan will be to pay as little as possible and extend the loan for as long as possible to get it to qualify for this new rule.
So far, Biden has “forgiven” more than $116 billion in student loans… so just add that to our check.
Source: New York Post
