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Biden Admin Forgives $39 Billion In Student Debt For Over 800,000 Borrowers

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On Friday, the Biden administration announced that they would forgive $39 billion in student debt for 804,000 borrowers.

According to CNBC, the Department of Education revised the income-driven repayment plans for the student loan program as part of a new regulatory rulemaking procedure, which is what led to the creation of the new program.

Depending on when they borrowed, the sort of loan they took out, and the repayment plan they choose, after making payments for 20 or 25 years, the government will eliminate any outstanding debt for the borrower.

The Biden administration claims that in the past, payments that ought to have brought borrowers closer to debt freedom were not taken into account.

“For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness,” said US Secretary of Education, Miguel Cardona.

Eligible borrowers are expected to be notified in the next coming days by the Education Department.

The changes that led to the loophole included crediting payments for both partial or late payments made by borrowers as well as those whose payments had been suspended during various deferments and forbearances.

The Department of Education claims that Friday’s action corrects “administrative failures” and “historical failures” that led to an incorrect calculation of eligible payments made by borrowers. Americans having Direct Loans or Federal Family Education Loans held by the department are among those who are impacted.

The action being taken just before student loan payments, which were suspended for years during the pandemic, are expected to start up again in October.

Separately, the Saving on a Valuable Education (SAVE) strategy, which we’ve previously noted, is also progressing within the Department of Education.

Under the President’s SAVE plan, borrowers with undergraduate loans would only have to pay back 5% of their discretionary income rather than 10%, saving them, according to the administration, about $1,000 annually. In addition, rather than the initial 20 years of payments, students with sums of $12,000 or less would be eligible for student loan forgiveness after ten years.

Biden Administration

Former Obama-Biden Advisor Claims “The First Amendment Is Out of Control,” Hinders Government Action

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In a controversial opinion piece published recently, Tim Wu, an advisor to both the Obama and Biden administrations, argued that the First Amendment is becoming a significant obstacle to effective governance. The essay, titled “The First Amendment is Out of Control,” has sparked widespread debate and criticism.

Wu’s argument centers on the assertion that the First Amendment, designed to protect free speech, is now being exploited by powerful entities, including Big Tech companies, to resist regulation and oversight. He cites recent Supreme Court rulings regarding Texas and Florida laws aimed at regulating social media platforms as examples of this exploitation.

According to Wu, the collaboration between the government and major social media platforms is often hindered by the First Amendment, which is used as a defense to protect free speech in digital public forums. He suggests that this constitutional protection is being misused to prevent necessary government action aimed at safeguarding citizens.

Critics, however, argue that Wu’s perspective misinterprets the fundamental purpose of the First Amendment. They contend that the amendment’s role is precisely to protect citizens from government overreach and censorship, ensuring that free speech remains a cornerstone of democracy. The idea that the First Amendment is an obstacle rather than a protector is seen by many as a dangerous and misguided interpretation.

Furthermore, Wu’s essay touches on the issue of banning platforms like TikTok and implementing age verification laws, such as California’s Age-Appropriate Design Code. He suggests that the First Amendment stands in the way of these actions, which he believes are necessary for national security and protecting minors online. Critics counter that these measures, if implemented, could set precedents for broader and potentially harmful censorship practices.

Wu’s reference to the First Amendment as a “suicide pact,” borrowing language from a 1949 dissenting opinion in the Terminiello v. City of Chicago case, underscores the dramatic tone of his argument. He suggests that the amendment, while intended to safeguard freedoms, can also be interpreted in ways that undermine societal safety and security.

In conclusion, Tim Wu’s essay has reignited the debate over the balance between free speech and governmental regulation. While Wu argues that the First Amendment’s current application hinders effective governance and protection of citizens, his critics maintain that the amendment is essential for safeguarding democratic principles and preventing government overreach. As this debate continues, the interpretation and application of the First Amendment remain at the forefront of discussions about free speech and public safety in the digital age.

SOURCE: NEW YORK TIMES

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DHS and FBI Issue Warning About Large Fourth of July Events as ‘Attractive’ Targets for

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The Federal Bureau of Investigation (FBI) and the Department of Homeland Security (DHS) issued a warning on Wednesday regarding potential threats to large Fourth of July celebrations. According to an internal bulletin obtained by ABC News, these events are considered “attractive” targets for lone offenders and small groups with malicious intentions.

The bulletin emphasizes the risk posed by individuals and small groups who might exploit the gatherings for terrorism or other harmful activities. The warning comes as the nation prepares for Independence Day festivities, which traditionally draw large crowds to public spaces.

The FBI and DHS are urging local law enforcement and event organizers to increase vigilance and security measures. The agencies highlight the importance of public awareness and cooperation, encouraging individuals to report any suspicious activities immediately.

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Biden is 7 Times More Popular with Ukrainians than Trump, Poll Reveals

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In a recent poll conducted by The Counteroffensive/Kyiv International Institute of Sociology, President Joe Biden emerges as significantly more popular among Ukrainians compared to former President Donald Trump. This inaugural poll offers insights into Ukrainian sentiment towards American leadership during their ongoing conflict with Russia.

According to The Hill, a striking 46.7 percent of Ukrainian respondents expressed a preference for President Biden as the leader they believe would better support Ukraine’s war effort. In contrast, only 6.5 percent of those polled favored Trump in this regard.

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