I personally find the legal arguments interesting. I know enough people to know that 20k relief is nice, but they still will have a lot of debt. These are not all 25 year olds. I know a few 40 and 50 year old people that went back to school to get a new career. You know . . . to better themselves!

I am appalled that a subset of citizens think this is the craziest, stupidest, socialist, and whatever negative thing they can think of. Yet they are ok with giving away money to companies and rich individuals. I have mentioned before, that after 9/11 Jr. implemented retroactive changes to the tax code. Giving 5k to my accountant and filing a 1040x meant a refund from the IRS of $1mm. Got to love changes to depreciation. They are OK with subsidies to companies.

Today is November 14, 2022. There are groups that are fighting hard to have this not happen. One of them is funded and founded by one of the founders of Home Depot. Another two are funded by Koch. They have filled amicus briefs going against the government's position.

From a simple standpoint, there are three parties involved: The borrower, the lender and the servicer. The servicer is hired by the lender to collect the funds and distribute them. Those are the only ones that have standing. Considering the lender wants to reduce the debt, they are not injured. Considering the borrower has to APPLY for this relief, they are not injured. The servicer is where it gets interesting. They have standing. However, they are hired by the lender. Would they be injured if debt is reduced? Technically, yes. If they no longer service an account, there is no revenue. However, this does not matter if the government pays the debt, reduces the debt or the borrower wins the lottery and pays it off.

Today, the 8th circuit stopped the process because of a company called MOHELA. This is what intrigues me! Mohela is supposedly a company that is owned but not owned by the state of Missouri. Mohela has NOT filed with the 8th. The state of Missouri has. The state of Missouri is claiming that Mohela will be injured and that they are using some of the proceeds from Mohela to fund projects and services. Missouri by law puts a majority on the board. Mohela claims to be a non-profit in their filings, but yet I can't find a 990. "The Company is recognized as one of the largest nonprofit student loan secondary markets in America by statistics gathered and maintained by the U.S. Department of Education (the Department). The Company is a leading holder and servicer of student loans with $79.0 billion in student loan assets serviced as of June 30, 2021. "

Think about that for a second. WTF? The state created a company, then made it a non-profit, then is using PROFITS outside the mission of the non-profit. WTF! And for those that wear tin-foil hats, here is YOUR food! The government created something to extract money from people while not paying taxes! WTF is the state government doing in a for-profit business? Makes NO sense. At least follow Florida's lead and follow what was done with Citizens Insurance. Missouri has set it up so that they have no liability for Mohela, but it has rights to the assets. Florida has set Citizens up so that it has liability for the liabilities and there is no movement of 'profits' into the state.