It’s too early to tell whether the Supreme Court will uphold the injunction issued by U.S. District Judge William Bertelsen, who ruled that the administration’s policy would harm students and their families by forcing them to repay loans they had paid back. The White House has vowed to defend the policy. The court is expected to rule Friday in the landmark case that could determine whether federal law gives former students in bankruptcy a right to discharge student loan debt, or if such debts are protected by the Fifth Amendment. That issue could affect billions of dollars in student loans owed by nearly 11 million borrowers nationwide.
What are the major points of the student loan bill of rights?
The Supreme Court will take up the question of whether former Vice President Joe Biden violated federal anti-corruption law by failing to disclose his son Hunter’s lucrative work for a Ukrainian gas company while serving as vice president. A lower court found that the Obama-Biden administration violated the Federal Corrupt Practices Act when it cleared Hunter Biden to sit on the board of Burisma Holdings in 2014. But the Obama Justice Department refused to prosecute the case, prompting the appeal to the Supreme Court. “The Supreme Court has taken up the issue, and the court is expected to announce a decision by the end of June,” says Larry Tribe, the University of Minnesota law professor who argued the case for Biden.
What will happen if the Supreme Court Rules Against Student Loan Program?
The lawsuit says that when Mr. Biden borrowed money in 1992 and 2007 to pay for law school, the government agreed to forgive his student loans at a rate of 8 percent if he was a public servant. In other words, the student loan company got a break. The company, which goes by the name Nelnet, has asked the Supreme Court to review the case, arguing that Mr. Biden is actually entitled to a lower rate of interest on his loan, which was supposed to start accruing in 2008. In the meantime, Mr. Biden’s campaign said in a statement on Wednesday that he would seek to pay back the loans if elected president. The Supreme Court will likely be asked to rule on the case of Joe Biden’s student loans, which were obtained under his father’s name, when he was a senator in 1985. The court could strike down the $6 billion debt and potentially wipe away the loans for students who borrowed during the period when the loans were unavailable. In his testimony before the committee, Biden said that he did not personally profit from the loans, but instead put the money into a “blind trust” that would pay for his children’s education and other investments.
How the Supreme Court will rule on the case of Biden’s student loan?
Biden’s student loan issue has been a long time coming. It’s one of those stories that is so obvious in hindsight, but nobody could have known it would come to this. And here we are. The court has now taken up the case, and we all know what the ruling will be. It’s very likely that the decision will come down to the fact that Biden did not actually file his income taxes, and that this means he was ineligible for the Public Service Loan Forgiveness program. He should have gotten around to paying it back if he had filed, and instead, he let his wife pay it off. While Biden’s student loan debt has been growing for decades, it has been at a relatively slow rate. There have been many changes and reform to student loans over the years, but it was only recently that the Obama Administration came up with plans to make them more forgiving and affordable. The Administration set out to reduce the number of students saddled with $1.3 trillion of student debt in the US. The changes will give people the chance to pay back their loans with no payments for up to 10 years. It is estimated that this will save the average borrower around $10,000.
While Biden argued his student loans were forgiven by the U.S. Department of Education in 2007, a federal appeals court determined that he did not actually receive a debt discharge, and therefore, the discharge was not a true cancellation. Biden’s claim is a false statement, as it does not meet the definition of cancellation set forth by the Bankruptcy Code. A debt cancellation occurs when the debtor receives a discharge of at least $750 of debts; however, Biden’s student loans totaled $32,000. Additionally, according to the U.S. Department of Education, if you complete your program and earn your degree, you will not owe any money. Biden’s claim of a debt cancellation also conflicts with federal bankruptcy law because he filed bankruptcy after the debt became due, which is a violation of the bankruptcy code. Biden’s statements are misleading and a violation of the federal bankruptcy code, which should be prosecuted.