Earlier quoted context omitted.
> Am I crazy or did Biden just try to pay for a bunch of student loans? Forgive, not pay for. > Legality still pending AFAIK. Oral arguments were heard by the Supreme Court a few weeks ago. > the debt cannot be dispelled through bankruptcy It can, actually, though it's difficult.
It’s forgiveness, but it will still cost federal money, correct? https://www.npr.org/2022/09/27/1125272287/student-loan-forgi...
Of course, a lot of student loan debt will never be paid anyway for various reasons, such as deferment, default, or death of the borrower.
Loan forgiveness won't result in any immediate payments from the federal government, because these loans are held by the federal government rather than by banks, something that a lot of people seem to misunderstand. The payments were already made years ago when the loans were disbursed.