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Upset Wealthy White Men and Women vs. Student Loan Debt – Why you mad?

The wealthy class in the United States, from White Americans to Asian Americans (and everyone in between) is upset because the Biden Administration is attempting to implement an action that could be slightly useful for the Black Community. Why? Because if they had to experience the ghetto, then so does everyone else. Here’s my question. Wouldn’t the money go to the same people who are complaining?

Okay, so the student loan debt has continued to balloon by the day. Payments are currently paused, but scheduled to pick back up in December I believe. Per our previous blogs, we’ve called out the Biden administration from their campaign promise, to the actual act of opening the enrollment for federal student load debt payment assistance. What he’s trying to implement does not do anything at all. However, let’s run it back one more time. The primary purpose of Cassonade, Inc. is to assist the men and women of the community with the ongoing issue of student loan debt. We have created a way to obtain a free estimate of the possibilities to pay your student loan debt to ensure it’s suitable for your pockets, as well as creating a blog to call the BS out when it needs to be. Let’s give the Biden administration the benefit of the doubt. We should ASSUME that the reason they would have to send out checks to the former students who applied for the debt relief is because the administration was aware that they cannot pay a debt that is not in the federal Government’s hands. Now, when it’s time for the holidays, and majority of the population thought they were receiving a check in the mail, will not. Why? Because Mr. Scrooge and his associates decided to file a lawsuit against The President’s action. The argument is that he has overstepped his authority, and student debt should be consulted in Congress. We know how that’s gone so far, and the answer is nowhere.

What is the basis of the lawsuit? So boom. On Thursday, November 10th 2022, a Texas judge strikes down the student loan forgiveness plan. The Justice Department is currently appealing the action, but currently it will not obtain any additional traction. It all started with this. “The Job Creators Network Foundation filed a lawsuit in October on behalf of a borrower who does not qualify for the full $20,000 in debt relief and one who is ineligible altogether. The suit alleges the administration violated federal procedures by denying borrowers the opportunity to provide public comment before unveiling the program. U.S. District Judge Mark T. Pittman, who was appointed by Donald Trump, declared the policy unlawful in the Thursday order. “In this country, we are not ruled by an all-powerful executive with a pen and a phone,” Pittman wrote in his order. “Instead, we are ruled by a Constitution that provides for three distinct and independent branches of government“(Washington Post, 2022). What I get from this statement is that the tax cut the Republicans passed in 2018 was considered fair and reasonable for the wealthiest Americans in the Country (regardless if they have denied millions of Americans the opportunity for equality) while ignoring, avoiding, and to a degree arresting men and women who has tried to engage in the same public comment argument that is in the lawsuit. It is very important to see that we, as a whole, elected these representatives into office. It’s the American people who are the ones that shall continue to feel price hikes by these came companies that many of the Republicans are lobbyist for while in office.

Basis on the lawsuit:

#1: “Alexander Taylor, one of the plaintiffs in the case, falls under the income threshold and is eligible to have $10,000 knocked off the $35,000 in student loans he holds for an undergraduate degree from the University of Dallas, according to the complaint. Yet because he never received a Pell Grant, a form of federal aid for low-income students, he does not qualify for the additional $10,000 provided to Pell recipients.”

#2: “Myra Brown, the other plaintiff in the lawsuit, is ineligible for Biden’s plan because her federal loans, originated through the defunct Federal Family Education Loan (FFEL) program, are held by private entities. Until late September, commercial FFEL borrowers like Brown could consolidate their loans into a Direct Loan to become eligible for Biden’s plan. But the Education Department reversed the policy to head off legal challenges such as the one being brought by the six states.”

I’ll leave this here, because I believe it’s very clear where the motive is. Until someone can confirm that these plaintiffs are at a true disadvantage, I’m sure someone would’ve told me it’s a personal problem that you didn’t fall into the criteria.

Now, in the midst of researching this issue myself to completely comprehend it, I found this lawsuit that I believe will create a change sooner rather than later. This is an example of elections having consequences, sadly. I’ve ripped the Biden Administration. Let’s take it back to 2016, and remind everyone why the Trump Administration was more trash than Biden’s.

In 2017, once Trump became President, he appointed Betsey DeVos as the Secretary of Education. Now, let me be very blunt. I did not appreciate the DeVos administration at all. I believe they continued to allow a disservice to Historically Black Colleges and Universities to continue. I believe that someone who does not have a college degree, or any history of running a University, should not have become the Secretary of Education. As a black woman, I did not approve of her removing requirements that would allow Universities to protect the Women on their campus. However I can review information without bias because I have been educated to separate my feelings from the facts. So, here are the facts.

“On June 22, 2022, the U.S. Department of Education (ED) and the plaintiffs reached a proposed settlement in the case titled Sweet v. Cardona (formerly Sweet v DeVos). If finally approved by the court, that agreement will affect the processing of borrower defense applications. Borrowers whose applications for borrower defense discharges were pending as of June 22, 2022, are “Class Members,” while those whose applications were submitted on or after June 23 but before the date the settlement agreement receives final approval by the court are “Post-Class Applicants.

A lawsuit was filed in a federal court in California by seven borrower defense applicants who represent, with certain exceptions, all borrowers with pending borrower defense applications. The lawsuit challenges the way ED has been dealing with borrower defense applications over the past few years, including ED’s delays in issuing final decisions and ED’s denial of certain applications starting in December 2019. The case is now called Sweet v. Cardona, No. 3:19-cv-3674 (N.D. Cal.). Now, both parties are proposing to settle this lawsuit. On August 4, 2022, after a hearing, the court preliminarily approved the settlement reached by ED and the plaintiffs” (Washington Post, 2022). Now, here’s the kicker. If you’re school isn’t on this list, then this doesn’t apply to you either. My Alumni is not listed.

As of November 17th, 2022, the Judge approved Sweet v. Cardona student debt relief settlement. This is the first thing I need you, as the reader, to realize. This lawsuit will cancel $6 billion dollars of student loan debt from 151 different schools. “Alsup’s decision sets the stage for the Education Department to automatically cancel debts for about 200,000 borrowers who attended 151 colleges, including shuttered large for-profit chains like ITT Technical Institute and still-operating institutions like Grand Canyon University. That would clear a total of about $6 billion in federal student loan debt.

The settlement agreement also calls for the Education Department to quickly make borrower defense to repayment decisions on debt cancellation for another 64,000 borrowers — or to discharge their debts if a decision can’t be reached within specific timeframes based on how long they’ve been awaiting a ruling. This is projected to result in $1.5 billion in loans being cleared.

Another part of the agreement requires the department to smooth borrower defense applications for those who applied to the program after the settlement agreement was reached. Automatic relief will be granted for those borrowers, who number about 179,000, if the Education Department doesn’t decide on their applications within three years of the settlement’s approval.”

Let’s see who else is not a fan of helping me ONLY PAY SOME INTREST ON MY STUDENT LOAN DEBT.

Perspective #1: “Conservative groups and Republican lawmakers have assailed Biden’s plan from the outset and lauded the court’s decision Thursday. Rep. Virginia Foxx (N.C.), the top Republican on the House Education Committee, said, “This administration continues to operate as if its own self-appointed authority in transferring billions of dollars in student loans is legitimate, but the rule of law says otherwise. This radical scheme must be eviscerated entirely, and Republicans will continue to support legal challenges to achieve that end” (Washington Post, 2022).

Perspective #2: “On Thursday, Elaine Parker, president of the Job Creators Network Foundation, praised the ruling and said it “protects the rule of law which requires all Americans to have their voices heard by their federal government.” The Job Creators Network was founded by Bernie Marcus, a GOP donor who co-founded Home Depot.

“This attempted illegal student loan bailout would have done nothing to address the root cause of unaffordable tuition: greedy and bloated colleges that raise tuition far more than inflation year after year while sitting on $700 billion in endowments,” Parker said in a statement. “We hope that the court’s decision today will lay the groundwork for real solutions to the student loan crisis.”

Spicy. Super spicy. So are you able to see why student loan is such a topic that is avoided by Republicans, but a deal breaker for Democrats? It’s ridiculous, honestly. The only argument that people within this structure have is that if the people won’t pay for it, then we will. They don’t want to give up money they know will be obtained via debt collectors and interest. If I got that check today, it would go right back to the CEO’s of the companies that holds the agreement with the Department of Education. Everyone is entitled to their education. But, hey, let’s look at our country’s history. As far as the founders are concerned, having the opportunity to convey my perspective and be able to write this blog is blasphemous to begin with. So yes, I do believe this is partly because this is a group of people that will continue to make it more difficult to become educated simply due to greed. It seems that when it comes to a better education, it’s always harder for the minority race to create a path for our success. When we try to follow the path that has been walked before us, a match between ethics and money always ensure. Sadly, the house always win.

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