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US Supreme Court rules against Biden’s student loan relief program

18 points by ahiknsr 3y ago

nunez 3y ago
While this is really sad and people absolutely need the relief (and I say that as someone who paid off over $200k in student loans), I hope this gives lobbyists/activist groups/etc more focus to attack the _real_ problem of higher education being way too expensive. We're trending towards major swaths of higher education only being accessible to the wealthy, which will lock so many people out of opportunities to improve their station in life. This comment in particular really frustrated me: > In the opinion, delivered by Chief Justice John Roberts, the court found that the debt forgiveness plan would “cut into Mohela’s revenue, impairing its effort to aid Missouri college students”. Ah, yes, let's defend a _de facto national_ lender from obtaining revenue for an industry it helped create. Disgusting. (I had a loan serviced by MOHELA. I went to school in New Jersey. I never lived in Missouri.)
hirvi74 3y ago
I am interested in seeing if this decision has any side-effects in regards to the future of the economy. I know myself and others who are still saddled with student loans are going to be spending less on consumer goods due to this decision. I doubt this decision would ever cause any kind of major effects on the economy in isolation, but one can only load so much straw on the metaphorical camel's back before the camel's back breaks.
- tomlocke1 3y ago
  Kyla Scanlon will have a great newsletter on it. It's likely to cause slight decrease in inflation
  - hirvi74 3y ago
    I am unfamiliar with this individual, but I will be on the look out for any related articles. Thank you for the heads-up.
- nateb2022 3y ago
  > I know myself and others who are still saddled with student loans are going to be spending less on consumer goods due to this decision. The Supreme Court didn't make the decision to take out student loans for you or anyone else. You did; hopefully because the decision was justified and you had reasonable expectation that you would be able to pay it back.
  - nunez 3y ago
    Check your privilege. Many, many people (myself included) would have either not gone to college or would have gone to community colleges at best without those loans. The biggest reason I have the career I have is because the school I went to had a cooperative education program and had strong connections with great employers. While I highly respect community colleges and the upward mobility they provide for millions of students, it would have been a much steeper hill to climb to get as far in tech as I am with an Associate's degree.
    - nateb2022 3y ago
      Bold of you to assume I'm privileged. I was born abroad and immigrated here when I was 5. It was only through years of work -- starting when I was 16; excellent grades; and even better financial aid, that I was ever able to afford to go to college. And it remains a struggle to continue affording it. I attended a community college for a year and I am also a Pell Grant recipient. I have maxed out Federal loans each and every one of my semesters, and work 70+ hours a week over the summer just to make ends meet. Regardless, the debts I take out are solely my own and it would be unreasonable for me to expect them to be shouldered by anyone else.
      - nunez 3y ago
        While I respect the hard work you're putting in to repay those loans, if the alternatives to taking the student loans areeither working constantly to _try_ and repay the loans (while sacrificing social development in the process) or not going to college and significantly reducing your earning potential and social network, then the loans aren't a choice.

18 points by ahiknsr 3y ago

While this is really sad and people absolutely need the relief (and I say that as someone who paid off over $200k in student loans), I hope this gives lobbyists/activist groups/etc more focus to attack the _real_ problem of higher education being way too expensive. We're trending towards major swaths of higher education only being accessible to the wealthy, which will lock so many people out of opportunities to improve their station in life. This comment in particular really frustrated me: > In the opinion, delivered by Chief Justice John Roberts, the court found that the debt forgiveness plan would “cut into Mohela’s revenue, impairing its effort to aid Missouri college students”. Ah, yes, let's defend a _de facto national_ lender from obtaining revenue for an industry it helped create. Disgusting. (I had a loan serviced by MOHELA. I went to school in New Jersey. I never lived in Missouri.)

hirvi74 3y ago

I am interested in seeing if this decision has any side-effects in regards to the future of the economy. I know myself and others who are still saddled with student loans are going to be spending less on consumer goods due to this decision. I doubt this decision would ever cause any kind of major effects on the economy in isolation, but one can only load so much straw on the metaphorical camel's back before the camel's back breaks.

tomlocke1 3y ago
Kyla Scanlon will have a great newsletter on it. It's likely to cause slight decrease in inflation
- hirvi74 3y ago
  I am unfamiliar with this individual, but I will be on the look out for any related articles. Thank you for the heads-up.
nateb2022 3y ago
> I know myself and others who are still saddled with student loans are going to be spending less on consumer goods due to this decision. The Supreme Court didn't make the decision to take out student loans for you or anyone else. You did; hopefully because the decision was justified and you had reasonable expectation that you would be able to pay it back.
- nunez 3y ago
  Check your privilege. Many, many people (myself included) would have either not gone to college or would have gone to community colleges at best without those loans. The biggest reason I have the career I have is because the school I went to had a cooperative education program and had strong connections with great employers. While I highly respect community colleges and the upward mobility they provide for millions of students, it would have been a much steeper hill to climb to get as far in tech as I am with an Associate's degree.
  - nateb2022 3y ago
    Bold of you to assume I'm privileged. I was born abroad and immigrated here when I was 5. It was only through years of work -- starting when I was 16; excellent grades; and even better financial aid, that I was ever able to afford to go to college. And it remains a struggle to continue affording it. I attended a community college for a year and I am also a Pell Grant recipient. I have maxed out Federal loans each and every one of my semesters, and work 70+ hours a week over the summer just to make ends meet. Regardless, the debts I take out are solely my own and it would be unreasonable for me to expect them to be shouldered by anyone else.
    - nunez 3y ago
      While I respect the hard work you're putting in to repay those loans, if the alternatives to taking the student loans areeither working constantly to _try_ and repay the loans (while sacrificing social development in the process) or not going to college and significantly reducing your earning potential and social network, then the loans aren't a choice.