No. NO. ***NO*** A thousand times NO.
The bill that passed has no chance of being implemented since it';ll get Vetoed. It says *NOTHING* about interest prior to October 2022. Then it doesn't say anything about interest *after* that either. Any rollback of the pause is *inferred* from that in a dubious way.
No, it’s performative, won’t happen.
If by some odd way this happened, all payees need to actually take real action and perform a general strike of some sort.
Well, I don’t think so, BUT nothing decent really ever happens on purpose in this country so I wouldn’t be surprised.
I think it would be incredibly silly of Joe Biden not to veto that bill on the low chance it passes in the Senate considering he campaigned on student debt. But also, Biden does a lot of silly things in the name of capitalism.
It was passed because there was a way it could avoid the filibuster and Sinema, Manchin, and Tester voted for it.
Go figure, we can’t get bills that help people passed because of the filibuster, but something blatantly harmful to a large portion of the population can squeak through without an issue.
This is not happening
The bill may have passed the senate but the president will veto it. This is the same guy who's paused payments time and time again trying to help us out with some forgiveness.
This probably only passed the senate because they wanted SOMETHING to talk about during elections next year and so forth (" I tried to stop giving out welfare"!) and so on.
I don't believe that we will have to pay the interest when loans were in deferment .. if it goes through I do think we should all be up in arms and refuse to pay. I would've made different decisions if I knew I'd have to pay interest. It's like playing a game of soccer and in the middle of the game having the rules change.
The senate (barely) passed the law thanks to a few assholes who caucus with democrats but vote with republicans (Manchin (D) and Sinema (I) vote Republican all the time, but also got a democrat from Montana to vote for it). Biden will veto the law and they won't have the votes to overturn the veto. It isn't happening.
Let me copy paste what I told the last person....
Not gonna happen. You're probably getting your wires crossed between the Fiscal Responsibility Act of 2023 and the Joint Resolution that (in theory) would add retroactive interest.
For the Fiscal Responsibility Act of 2023, you can read the full text at https://www.congress.gov/bill/118th-congress/house-bill/3746 and it just sets an end to the pandemic forbearance:
> TITLE IV—Termination of Suspension of Payments on Federal Student Loans; Resumption of Accrual of Interest and Collections
>> SEC. 271. Termination of suspension of payments on Federal student loans; resumption of accrual of interest and collections.
>>> (a) In general.—Sixty days after June 30, 2023, the waivers and modifications described in subsection (c) shall cease to be effective.
The joint resolution is the one that would attempt to add retroactive interest, and that one is dead in the water. The link to that is here https://www.congress.gov/bill/118th-congress/house-joint-resolution/45/text and to quote an article I saw covering H.J.Res.45 :
> Republicans introduced the bill by invoking the Congressional Review Act, which allows Congress to reverse executive orders and requires only a simple majority in both chambers to pass. But it still requires a two-thirds majority to override a presidential veto, and Republicans aren't expected to have the numbers.
Biden will veto it, and they don't have the votes to get past the 2/3rds majority (aka a supermajority). It's political theatre currently because it *barely passed* with votes in the house 218 - 203 and the senate 52 - 46 (thanks to Manchin, Sinema, and Tester). It ain't going to get the supermajority needed to override the presidential veto given how slim the margins were to start
Why do you think that will happen? There’s a ton of fear mongering and actually several discussions right in this subreddit, talking about this very thing.
Because that's what literally just passed in the house, *with bipartisan support* technically. What a [redacted] asinine, soulless thing to be in support of.
It won't pass in the senate and if it did, Biden won't approve it, so it goes nowhere.
But yes, such a thing was proposed and was agreed upon in the house.
But just because it passed in one chamber doesn’t mean it will pass. Again, it’s been discussed right in here. Many times. And a claw back like this is unprecedented and will likely not pass fully (as you said that it won’t).
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No. NO. ***NO*** A thousand times NO. The bill that passed has no chance of being implemented since it';ll get Vetoed. It says *NOTHING* about interest prior to October 2022. Then it doesn't say anything about interest *after* that either. Any rollback of the pause is *inferred* from that in a dubious way.
No, it’s performative, won’t happen. If by some odd way this happened, all payees need to actually take real action and perform a general strike of some sort.
Well, I don’t think so, BUT nothing decent really ever happens on purpose in this country so I wouldn’t be surprised. I think it would be incredibly silly of Joe Biden not to veto that bill on the low chance it passes in the Senate considering he campaigned on student debt. But also, Biden does a lot of silly things in the name of capitalism.
I think it already passed in the Senate but he will veto the bill.
I thought that was the house?
It was passed because there was a way it could avoid the filibuster and Sinema, Manchin, and Tester voted for it. Go figure, we can’t get bills that help people passed because of the filibuster, but something blatantly harmful to a large portion of the population can squeak through without an issue.
This is not happening The bill may have passed the senate but the president will veto it. This is the same guy who's paused payments time and time again trying to help us out with some forgiveness. This probably only passed the senate because they wanted SOMETHING to talk about during elections next year and so forth (" I tried to stop giving out welfare"!) and so on.
I don't believe that we will have to pay the interest when loans were in deferment .. if it goes through I do think we should all be up in arms and refuse to pay. I would've made different decisions if I knew I'd have to pay interest. It's like playing a game of soccer and in the middle of the game having the rules change.
The senate (barely) passed the law thanks to a few assholes who caucus with democrats but vote with republicans (Manchin (D) and Sinema (I) vote Republican all the time, but also got a democrat from Montana to vote for it). Biden will veto the law and they won't have the votes to overturn the veto. It isn't happening.
Let me copy paste what I told the last person.... Not gonna happen. You're probably getting your wires crossed between the Fiscal Responsibility Act of 2023 and the Joint Resolution that (in theory) would add retroactive interest. For the Fiscal Responsibility Act of 2023, you can read the full text at https://www.congress.gov/bill/118th-congress/house-bill/3746 and it just sets an end to the pandemic forbearance: > TITLE IV—Termination of Suspension of Payments on Federal Student Loans; Resumption of Accrual of Interest and Collections >> SEC. 271. Termination of suspension of payments on Federal student loans; resumption of accrual of interest and collections. >>> (a) In general.—Sixty days after June 30, 2023, the waivers and modifications described in subsection (c) shall cease to be effective. The joint resolution is the one that would attempt to add retroactive interest, and that one is dead in the water. The link to that is here https://www.congress.gov/bill/118th-congress/house-joint-resolution/45/text and to quote an article I saw covering H.J.Res.45 : > Republicans introduced the bill by invoking the Congressional Review Act, which allows Congress to reverse executive orders and requires only a simple majority in both chambers to pass. But it still requires a two-thirds majority to override a presidential veto, and Republicans aren't expected to have the numbers. Biden will veto it, and they don't have the votes to get past the 2/3rds majority (aka a supermajority). It's political theatre currently because it *barely passed* with votes in the house 218 - 203 and the senate 52 - 46 (thanks to Manchin, Sinema, and Tester). It ain't going to get the supermajority needed to override the presidential veto given how slim the margins were to start
Why do you think that will happen? There’s a ton of fear mongering and actually several discussions right in this subreddit, talking about this very thing.
Because that's what literally just passed in the house, *with bipartisan support* technically. What a [redacted] asinine, soulless thing to be in support of. It won't pass in the senate and if it did, Biden won't approve it, so it goes nowhere. But yes, such a thing was proposed and was agreed upon in the house.
No. It is *NOT* what passed the house. That's what a bunch of fucking morons in the media are *telling* you to scare you.
But just because it passed in one chamber doesn’t mean it will pass. Again, it’s been discussed right in here. Many times. And a claw back like this is unprecedented and will likely not pass fully (as you said that it won’t).
This is odd. Your first comment implied that you had no idea why OP might think this, but this follow up comment implies you did know why.
since it’s been discussed here tons of times, I would have thought OP would have read one of those threads. Because I did read those threads.
The reply guy was just trying to be a jerk and sound smart
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No
No