The fight over student loan forgiveness has consumed most of the attention of the higher education policy world, and as a result, other policies are receiving much less attention than they should. One such neglected topic is borrower defense to repayment, which is a method of waiving repayment requirements for student loan borrowers who were […]
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The Biden-Harris administration’s pursuit of student loan forgiveness has moved from persistent to relentless and can now only be described as reckless. To briefly recap, the administration announced its first plan back in 2022, which the Supreme Court ruled was illegal in 2023. Their second plan, a loan forgiveness scheme disguised as a loan repayment […]
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Editor’s Note: The following article was originally published by Cato Institute on September 3, 2024. With edits to match MTC’s style, it is crossposted here with permission. Note, this post updates last month’s post. The biggest changes from last month include: The Supreme Court has let the Eighth Circuit’s pause on the SAVE plan remain in place. Reworked the student […]
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Editor’s Note: The following is a short excerpt from an article originally published by The James G. Martin Center for Academic Renewal on August 7, 2024. With edits to fit MTC’s style, it is crossposted here with permission. Legal battles over President Biden’s various schemes to forgive student debt continue. In July, the Eighth Circuit Court of […]
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Editor’s Note: The following article was originally published by Cato Institute on August 1, 2024. With edits to match MTC’s style, it is crossposted here with permission. Note, this post updates last month’s post. The biggest changes from last month include: the 8th Circuit Court of Appeals halting the Saving on a Valuable Education (SAVE) plan; added insights from Jason […]
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Editor’s Note: This article was originally published by Cato Institute on July 1, 2024 and is crossposted here with permission. Note, this post updates last month’s post. The biggest changes from last month include: Update on the lawsuits regarding the SAVE plan to reflect the court injunctions. Update on the prospects of the SAVE and HEA plan in light of […]
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Editor’s Note: This article was originally published by Cato Institute on June 3, 2024 and is crossposted here with permission. Note, this post updates last month’s post. The biggest changes from last month include: Updated total loan forgiveness figures ($167 billion for 4.75 million borrowers) to account for the latest developments. Update on the Mackinac and Cato lawsuit, and the […]
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Editor’s Note: This article was originally published by The James G. Martin Center for Academic Renewal on May 16, 2024 and is crossposted here with permission. The Martin Center opposes the Biden administration’s new loan-forgiveness rules for two basic reasons: They are outside of the Department of Education’s authority, and they will have adverse consequences. Legal Authority Economists […]
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Editor’s Note: This article was originally published by Cato Institute on May 1, 2024 and is crossposted here with permission. Note: This post updates last month’s post. The biggest changes from last month include: The newest plan relying on regulatory changes under the Higher Education Act has been released and is summarized. A new court case against the SAVE plan […]
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Editor’s Note: This article was originally published by Cato Institute on April 24, 2024 and is crossposted here with permission. Immediately after the Supreme Court overturned his last big student loan forgiveness plan, President Biden announced a new effort that would rely on a different law, an effort that is now nearing completion. The administration has released the draft regulations that would […]
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For years, I have been writing about the deficiencies of the federal student loan programs, but I thought diminishing returns were setting into my harangues—everything important had been said. But don’t underestimate the deleterious effects of disregarding the rule of law, the crassness of political ambitions, and the manifest stupidity of some of President Biden’s […]
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Senator and Presidential hopeful Elizabeth Warren (D, MA) recently proposed a policy to cancel student loan debt. She wants to cancel up to $50,000 of debt for borrowers with annual household incomes under $250,00, including full cancellation for households with incomes under $100,000. It would be financed with an “Ultra-Millionaire Tax” – a massive redistribution […]
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