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return2ozma@lemmy.world to News@lemmy.world · 1 year ago

Student loan repayment problems frustrate borrowers, prompting federal response

www.nbcnews.com

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Student loan repayment problems frustrate borrowers, prompting federal response

www.nbcnews.com

return2ozma@lemmy.world to News@lemmy.world · 1 year ago
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“If student loan companies are cutting corners or sidestepping the law, this can pose serious risks to individuals and the economy,” the CFPB said.
  • Garbanzo@lemmy.world
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    1 year ago

    That happened after Republicans fought it by threatening to shut down the government. Why are you here to argue if you don’t have a grasp on what actually happened in the first place? Fucking hell, no wonder you don’t get it, you don’t know what fucking happened.

    • tsonfeir@lemm.eeBanned from community
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      1 year ago

      https://www.whitehouse.gov/briefing-room/statements-releases/2024/01/12/statement-from-president-joe-biden-on-early-student-debt-cancellation-for-borrowers-enrolled-in-save/

    • tsonfeir@lemm.eeBanned from community
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      1 year ago

      The timeline of events in 2023 clarifies that the issue of student loan forgiveness and the budget negotiations in Congress were largely separate matters. The federal budget for FY23 was passed on December 23, 2022, covering the fiscal year from October 1, 2022, to September 30, 2023.

      The Supreme Court’s ruling on the Biden administration’s initial student loan forgiveness program occurred in June 2023, well after the budget had been finalized.

      White House reveals draft plans for next student debt relief plan

      Progressives worry Biden’s new student loan relief proposal is too small

      Furthermore, the discussions and subsequent actions on student loan relief were not a part of the congressional budget process but were instead separate initiatives pursued by the executive branch. This distinction in timing and process indicates that the student loan forgiveness issue was not negotiated out of the FY23 budget by Republicans, as it was not part of the budget discussions at that time.

      Edit: removed a link I didn’t copy correctly.

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