Two conservative groups are asking a federal court to block the Biden administration’s plan to cancel $39 billion in student loans for more than 800,000 borrowers.
Two conservative groups are asking a federal court to block the Biden administration’s plan to cancel $39 billion in student loans for more than 800,000 borrowers.
Really, if I were him, I would have a “better to beg forgiveness than ask permission” attitude about this. Just set it up in such a way that the Treasury can basically press a button and clear the balances, then announce it AFTER it already happened.
He would never do it but a pretty simple solution would be to not assign any money to the record keeping of the debt. The only thing that could stop that is an act of Congress, which won’t happen.
If that was done for a few years the records would be hopelessly wrong and a class action could argue that there is no way to collect a debt if you can’t even determine the amount owed.
Really, if I were him, I would have a “better to beg forgiveness than ask permission” attitude about this. Just set it up in such a way that the Treasury can basically press a button and clear the balances, then announce it AFTER it already happened.
It’s a lot harder to stop it after the fact.
He would never do it but a pretty simple solution would be to not assign any money to the record keeping of the debt. The only thing that could stop that is an act of Congress, which won’t happen.
If that was done for a few years the records would be hopelessly wrong and a class action could argue that there is no way to collect a debt if you can’t even determine the amount owed.