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eldiablonoche t1_jaox4wv wrote

Reply to comment by RickMoranisFanPage in [OC] Supreme court is forecast to block student debt relief by liortulip

I imagine the lenders would sue the government if Biden tried to "indefinitely suspend repayments". When it is a temporary measure, the vultures lick their lips knowing things always go their way eventually. If it were effectively permanent, they'd riot. But knowing that both parties are bought and paid for it won't go that far.

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jrm19941994 t1_jap1168 wrote

They would have no reason to sue, payments can only be suspended for federal loans.

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RickMoranisFanPage t1_jap2pvb wrote

Aren’t they serviced by a publicly traded company? I imagine investors there aren’t too happy, but I don’t know the financial situation there.

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bundleofstix t1_jap4co8 wrote

They're federal contractors, they work for the government. If they piss off the government they can just be fired.

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RickMoranisFanPage t1_jap7lox wrote

They’d likely lose in court since it is specifically a power delegated to the Secretary of Education by an act of Congress.

It’d put pressure on the Republican candidate. Are they going to campaign on resuming payments on 40 million people?

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Semanticss t1_japy7iy wrote

Doesn't both the suspension of payments and the forgiveness apply to only federal loans?

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eldiablonoche t1_jasugq6 wrote

Apparently so. Someone corrected me on a separate comment but I didn't think to self-correct or amend my comment. Thanks for calling out my inaccuracy.

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