Progressive Dems protest each transfer President Trump makes, after which they file lawsuits with judges who have been appointed by Obama and Biden. It would take months and even years to resolve this litigation, which is the entire level.
Is there something Trump and the Democrats can agree on?
How about this? The Democrats and Republicans can be a part of fingers and amend the Chapter Code to permit overburdened pupil debtors to discharge their faculty loans in chapter like some other nonsecured pupil debt.
Underneath present legislation, college students can not escape their training loans in chapter until they show that the debt creates an “undue hardship” for them. The Division of Schooling and the federal courts have interpreted “undue hardship” very harshly, making it nearly unimaginable for many pupil debtors to free themselves from crushing faculty loans.
How can that drawback be fastened?
Simple peasy. All Congress must do is take away two phrases from the Chapter Code: undue hardship. It is that easy.
Absolutely, the aged and bleating bulls within the Democratic Occasion–Maxine Waters, Nancy Pelosi, Elizabeth Warren, Bernie Sanders, Chuck Schumer, etc–can get behind this reform and get this easy change by Congress.
If not, President Trump can get the identical end result with a one-page government order. Henceforth, the order would learn, undue hardship is presumed when an bancrupt pupil debtor recordsdata for chapter. Thus, the burden of proving no undue hardship will fall on the US Division of Schooling and its debt collectors.
In fact, the Chapter Code ought to embrace some safeguards to forestall scofflaws from getting a profitable diploma and instantly flushing their pupil loans away within the nearest chapter courtroom. Faculty debtors needs to be required to attend 5 and even seven years after finishing their research earlier than accessing the chapter treatment.
Progressives would possibly argue that this wise reform would undermine the coed mortgage program as hundreds of thousands and even billions of {dollars} in pupil debt get wiped off the books. However hey–no one paid down their pupil debt for 3 years throughout the COVID disaster, and the progressives expressed no worries.
And let’s keep in mind that President Biden’s revisions to the income-based reimbursement system are so beneficiant that the majority pupil loans won’t ever be paid again anyway.
I predict that faculty leaders will oppose chapter reform if it will get launched. They just like the standing quo–an never-ending stream of federal student-aid {dollars} and no accountability for outcomes.
And progressive Democrats will most likely oppose it, too. They’ll all of the sudden develop a eager appreciation for monetary self-discipline. They do not need something good to occur for which Trump would get credit score.
That is okay. President Trump can open the chapter courts to financially strapped pupil debtors with a stroke of his pen. All he wants is a Sharpie.
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| Picture credit score: Getty Photos |
