The Supreme Court’s biased decision to kill the Biden-Harris debt relief plan of up to $10,000 for regular borrowers and $20,000 for Pell Grant recipients put the plan in a major tailspin.
The plan, invoked back in October 2022, was halted by several plaintiffs, whose suits were filed as a political opposition to borrowers. The truth is, student loans are unconstitutional, they were and are uniquely stripped of bankruptcy rights and protections. Without these protections, lenders can continue in bad-faith lending schemes, and usurious tactics (such as wage garnishment, social security garnishment and negative amortization) that will ultimately cripple any repayment efforts made.
Over half of all borrowers (now 70%) are Republican or independent. Borrowers over the age of 35 and 50 owe more than those under. This is a catastrophically failed lending scam. Every plan that the White House installs is only placing band-aids on the root issue.
The root issue is the missing key of uniform bankruptcy rights to student loans!
Article 1, Section 8, Clause 4 of the Constitution (the uniformity bankruptcy clause) calls for this protection that exists for all loans.
What will the Republicans, the Democrats do now to restore this right back to student loans before the payments resume in September of 2023?
I encourage all readers to take a good long look at studentloanjustice.org.
Anton Vanrey, Logan
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