#shorts On 6/30/2023, a reporter asked, “the millions who’ve already applied to the program that now has been blocked, that — I noticed the President was encouraging people to still sign up. So is the thinking that that could just be transferred to the new regulation once that’s set up? Or how will that work?
MR. RAMAMURTI: Yeah — again, I know this is not particularly satisfying, but it is too early to say, because we haven’t completed the rulemaking process yet. It is clearly the case that, you know, just a handful of days — I think maybe a little bit over a week — that the website was available, we had an incredible rush of interest. You had 16 million people go to the website, fill out the form, and indicate that they were eligible for debt relief. You know, as the President’s remarks made clear today, he certainly feels for all of the 40 million borrowers but especially those 16 million who went through the process and got a notification saying you will — “You are going to get your debt relief,” only to have Republican officials and the Court step in and block that. But — but, no, it’s not — it’s too — it’s premature to say whether those people are necessarily going to be at the front of the line or anything like that in a new process.
On 6/30/2023, the Supreme Court put the final nail in the coffin and invalidated Biden’s student loan bailout program. Joe Biden unilaterally announced a massive forgiveness of student loans last August to buy the Gen Z-Millennial vote in the 2022 midterms. Biden canceled over $400 billion in student loans which turns out to be up to $10,000 in student debt for borrowers who earn $125,000 a year or less and up to $20,000 for recipients of Pell Grants. Six Republican state attorneys general sued Joe Biden and argued the student loan bailout violates the separation of powers. Separately, two borrowers who did not qualify for Joe Biden’s student loan forgiveness plan (Department of Education v Brown) sued to stop the program. The Supreme Court ruled 6-3 in Biden v Nebraska that Joe Biden’s student loan forgiveness was unlawful. The 8th US Circuit Court of Appeals in November extended a block on Joe Biden’s student loan bailout plan. The DOJ then asked the Supreme Court to lift the 8th Circuit Court’s block, which they refused to do. The Supreme Court ruled 6-3 that Joe Biden overstepped his authority.
other clips of this published longer video is here: https://youtu.be/5guoqhrgHkk
Q: already applied be transferred to new? A: Republicans block it, may not be the front of the line