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Democrats selling Biden’s non-existent student loan forgiveness program

Democrats selling Biden’s non-existent student loan forgiveness program

President Biden and Democrats are traveling the country ahead of the Midterm Election.  One of their major selling points is Biden’s highly touted student loan forgiveness program.  Millions of applications have already been submitted – and others are being advised to submit their applications as soon as possible.

There is a problem, however.  There are no established student loan forgiveness programs.  It does not exist – other than in the minds of Biden & Co.  At best, it is a proposal … a campaign promise.

Yes, Biden did announce his student loan forgiveness program – and he did issue an Executive Order that allegedly created it.  

BUT … it is very doubtful that Biden has the authority to create such a program on his own.  There is a very credible argument that his EO is unconstitutional – and that only Congress can write off that debt.

Six states filed suit in federal court to challenge Biden’s action – Missouri, Iowa, Nebraska, Arkansas. Kansas and South Carolina.  A federal Appellate Court stopped the distribution of any money pending the outcome of the cases.  The case is likely to drag on into 2023.

So … even as Biden & Co. is selling the program as if it is a done deal – and they are encouraging the former students to keep applying for the cancellation money – there is no money to be had.  The promotion of the non-existent program before the Midterm Elections is a callous political ploy to fool the hopeful individuals to vote for Democrats in appreciation for something they will not get soon – if ever.

We should also not forget that the student loan crisis was created by Washington progressives.  They took away the borrowing from the banks – where there was some determination of affordability on the part of the student.  They crafted it as a monumental give-away to the colleges and universities.  With Uncle Sam covering the cost, the schools raised tuition costs well above inflation – even institutions with multi-billion dollar endowment funds.

There is the possibility that the entire gambit will backfire on Biden before and after the Midterm elections.  While many former students are happy in their belief that they will soon be receiving a big fat check from Uncle Sam … ah … Uncle Joe … there are a lot more former students who have paid off their loans.  They are rightfully feeling cheated.  And there are also a lot more folks who may never have had a student loan but do not want to be paying for college educations they did not receive.

Biden is not only promoting a program that does not exist – but may also wind up pleasing no one.

So, there ’tis.

About The Author

Larry Horist

So,there‘tis… The opinions, perspectives and analyses of Larry Horist Larry Horist is a businessman, conservative writer and political strategist with an extensive background in economics and public policy. Clients of his consulting firm have included such conservative icons as Steve Forbes and Milton Friedman. He has served as a consultant to the Nixon White House and travelled the country as a spokesman for President Reagan’s economic reforms. He has testified as an expert witness before numerous legislative bodies, including the U. S. Congress. Horist has lectured and taught courses at numerous colleges and universities, including Harvard, Northwestern, DePaul universities, Hope College and his alma mater, Knox College. He has been a guest on hundreds of public affairs talk shows, and hosted his own program, “Chicago In Sight,” on WIND radio. Horist was a one-time candidate for mayor of Chicago and served as Executive Director of the City Club of Chicago, where he led a successful two-year campaign to save the historic Chicago Theatre from the wrecking ball. An award-winning debater, his insightful and sometimes controversial commentaries appear frequently on the editorial pages of newspapers across the nation. He is praised by readers for his style, substance and sense of humor. According to one reader, Horist is the “new Charles Krauthammer.” He is actively semi-retired in Boca Raton, Florida where he devotes his time to writing. So, there ‘tis is Horist’s signature sign off.


  1. Rick

    Look at all of those gullible liberals looking for something free. I guess their mommy never told them that there is no such thing.

  2. Frank stetson

    That’s right Rick, not one Trumplicant signed up.

    They have no loans.

    They have no college degrees.

    They all have non union jobs in the coal mines. Or building Japanese cars in the Carolinas. Or taking theme park tickets in Florida.

    • Tom

      Some are also pole dancers Frank. I was surprised that pole dancers make more than most college grads. Many women have worked their way through college this way! I used the GI bill. Then got on with a company (that had the death star logo) that had an education reimbursement policy. Then paid cash for my masters.

      • frank stetson

        Funny story. Once while interviewing strippers and pole dancers for a certain event, one of the dancers mentioned she was moving home to Boca Raton Florida. My co-conspirator, a gent we called “humble paul,” because he wasn’t, asked “but what do your parents think?” She shoots back: “I don’t do it on the dining room table, son.” I digress, but that’s what I think bout the sexual phobias going on in Trumplicant land……

        On this one — yeah, I am not for forgiveness, especially at this level. It’s a heroin fix where we need a recovery program starting with making education more competitive by lowering the free money, either loans or forgiveness. Like wefare in the 60’s and 70’s, we have changed the economy incentivizing colleges to add cost, inflate price, because there’s free money in those hills and the suckers are willing to pay.

        I would be for adding two years mandatory education, a two year degree, as tax funded. That would up America’s knowledge base and put price pressure on 4-year and advanced degrees to compete against losing those dollars. Plus, after a couple hundred years of 12 year American education, it seems pretty prudent that we may need to know more before we enter the working world, even as a service worker like auto, ac, heat, plumbing, etc. tech. Or even computer workers, which might include a mcdonalds cashier. A dozen countries offer more than 12 years, lots in South America, but France and Israel too. It might be time.

        • Tom

          Well said! I agree with you Frank! Hey, I have been thinking for a long time that public school should add a grade 13 that is acceptable for college credit in the general subjects we all had to take. And if you are not college bound then you can graduate after 12 years and get a job or go to a 2 year tech school. That would lower the cost of education by 25% and make it more affordable for the folks who have brains and desire but lack funding.

        • larry Horist

          Frank and Tom ….we already have a two-year degrees, often called an associate degrees. They are usually given by community colleges and are low or no cost. Two kids I fostered got them. Some credits can be transferred to 4-year colleges … as one of my kids did. Because of government grants, one of my kids was getting $700 a month over the cost of the college literally being paid to go to school.. Students can also offset the cost with school-related jobs. Community college degrees cover a wide range of occupational and professional disciplines.

          • Frank stetson

            Yeah, thanks. My point is put that into our public education with current curriculums, perhaps even adding some like those they ITT Institute offered for technical service areas.

            I feel that education is part of our national defense and that raising the bar here is a good thing. Plus, this would put additional pressure on for your schools to be cost competitive. They would be losing medical credits to people would pick them up under the new public education program and I will have to compete on price For those two years as well as the retaining two years to get a four-year degree.

            In other words, a revolution in public education that raises the bridge and perhaps will lower the water as well. Of course, we need to fix the student loan program as well so that we no longer give loans to people can’t pay.

            If you think about it, we’ve been at 12 years of public education since we began. I would have to say that most prudent people would recognize that’s a trend would be to add more education, not less. I think it’s time for the addition to take place.

          • Tom

            Yes as an retired educator I am aware of all that you stated. My point was to extend to 13 years so as to offer all the chance to prove college worthiness and advance there education at no cost. The amount of knowledge has increased over the past seven decades but we still keep at 12 grades. Time to add a grade thirteen and maybe fourteen and let them graduate from high school with an associates degree at no cost.

          • Frank stetson

            My point was not only that but it could put competitive price pressure on four year institutions given they would lose a lot of the first two years. Artificial market management but it isn’t a free market now anyway given the inbred loan program of free money.

            The college loan program would need to stop loaning money to folks who can’t pay for this to work.

            If if did, college might get more price competitive, cost conscious and looking to expand advanced degrees to cover lost revenues. A win win for uplifting our degree power for national defense and economic growth.

    • Rick

      Frank, you know that liberals are the most dangerous people on the planet because they are afraid of freedom, and will give it up in a moment to get some small free thing. Liberals will jump at the chance to get so called free money with the UBI, and therefore they will drag the rest of us down into the NWO where freedom will be something that used to be. Wont that be great Frank. You can tell your grand kids about how we used to be free.

      • Frank stetson

        UBI and NWO are not mainstream Democratic party planks.

        I am a Democrat and a capitalist that worked products for sales to small business to the Fortune 100. I wouldn’t advocate either of your acronyms, the later you can’t even find except with your tinfoil hat on. My products often explicitly were designed to reduce cost by reducing headcount. My beat was Wall Street and Hartford; I even took a meeting with Sheriff Joe, he attempted to bully me so I gave him a big discount that made me more profit since I would have dropped lower if he hadn’t been dickish. That kind a capitalist.

        I am a hired gun, my steel goes to the highest bidder. First in my career, I consulted with foreign companies entering America. After we decimated the number one market share in America, I went to work for them to push the foreign companies out. They paid so much that I often paid the AMT. We stopped the bloodletting, but only retained market leadership, not capitulation. My stuff crushed them however.

        Also served the cable market for awhile; there ain’t no socialists there. Cool guys though. Got to meet so many stars too.

        No, there are capitalist Democrats that don’t even consider what you mistakenly think are the mainstays of Democratic thought. And you can’t prove it either.

        But I can point to Republican candidates that think Pelosi’s attack is funny, that say if they lose, it will be fraud, and if they win, they will work to implement Trump’s 2020 election plans.

        There’s close to 1,000 Trumplicants convicted, many for violence, many for years in prison because they think violence a suitable solution.

        It all starts with the rhetoric. Words matter. The truth should matter. Lies may be legal, but that’s not who we are. We need to stand up and punish liars. Not give them websites and public offices.

        I won’t say you are a liar. I am sure you can find someone who believes it. But you are wrong about all Democrats and should say so.

        But you won’t, will you?

        • Tom

          You are right Frank. Words do matter! Maybe that is why the Bible Trump held up during the insurrection says God “spoke” the world into existence! Way back when, I was a similar type of Democrat. And I agree with you, Rick should apologize! But my money is on Rick using true MAGA Trumpian style and never apologizing for anything. I have noticed over the years how pedophiles never apologize either.

          • Frank stetson

            Fyi- at the blm rally he held it upside down apparently auditioning for next sequel of The Omen to play Damionald.

        • Rick

          Hey Frank and Tom,
          I don’t have a thing against you personally. I just know how liberals are. They cant help it. It is kind of like the rat that is in prison.
          The rat is sitting there in his cell, and he says, “And, I would have gotten away with it too, if I had just gotten rid of the evidence, But heck, I’m a pack rat”. It is the same with liberals. They just cant help it, just like the pack rat cant help it. Maybe there are different levels of liberal insanity. Maybe you guys are at a higher level. But, the fact remains that, if you vote for any democrat, you are voting for the destruction of the USA. What did I write that needs an apology? All I did was write the way it is. It is not personal. If your feelings are hurt, then I will write that I’m sorry about that. Are you going to apologize to me and my grand kids for your part in destroying our freedom and future?

          • Frank stetson

            I was pretty clear where you were on the fax.

            The fact that you double down pretty much proves you’re a liar.

            As far as your feelings about me, I could care less. As far as Your opinions, how about them, they’re yours. But the facts that you spewed above our ally. All Democrats do not desire.UBI or NWO. That’s a lie.

        • Rick

          Which democrats or rino’s are not sold out to the NWO and WEF. Please tell me. Since you are so intelligent, you should already know that most of the world has already been overthrown with the NWO whether they wanted it or not. The democrats and rino’s Daddy, Klaus Schwab has said that they (WEF) have penitrated the worlds (cabinets) governments. I do not lie Frank. Liars do not make it into the Kingdom of Yahuwah. I also do not worship Trump as you suggest. I actually was a democrat when I was younger and had no world experience. But, my eyes were opened to what the democrats are. Many of the republicans are not much better. The truth is, our country is broke from many years of bad management. Not only broke, but so deep in debt that we could never pay it off, and the rest of the world hates us because of our meddling. I know that you will have the last word and that is fine, but please tell me which politicians are not sold out to the NWO.

          • frank stetson

            “Which democrats or rino’s are not sold out to the NWO and WEF. Please tell me.” OK, this is for all you conservatives out there who use this debate ploy. When you state that “Liberals will jump at the chance to get so called free money with the UBI, and therefore they will drag the rest of us down into the NOW” and I come back with “All Democrats do not desire UBI or NOW. That’s a lie,” is really not up to me to prove your case. You are answering a question with another question to avoid answering the first question. That’s the ploy to see if I will take your bait.

            So you’re asking me “Which democrats or rino’s are not sold out to the NWO and WEF” not only replaces your term NWO with WEF, a completely different animal of an acronym (or are you suggesting that the WEF is the NWO?), but you are basically asking me to prove what I say you can not prove. I think that means you win, but only by the nature of you cheating on the debate and the immediate question posed. IOW —- you’re on first, it’s your play. I pointed out the lie, asked for proof, but will not disprove your whacko conspiracy theory by proving the unprovable false. That’s a waste of time. If you say it, have the balls to prove it. Or be like Larry and Joe, two more talking heads who can’t back up their supposed factual claims. And they call lies free speech. I call it disinformation.

            Then you double down with yet another question, this one prefaced with a back-handed compliment and the totally false conclusion, yours, that “Since you are so intelligent, you should already know that most of the world has already been overthrown with the NWO whether they wanted it or not.” This brings back the NOW, but since I don’t know what you say I know that “The democrats and rino’s Daddy, Klaus Schwab has said that they (WEF) have penetrated the worlds (cabinets) governments. I do not lie Frank. Liars do not make it into the Kingdom of Yahuwah” then you are basically asking me to disprove what you falsely say I have proven, so therefor it’s a fact. That’s just stupid world salad lying confirmation of your opinion, not fact, by saying I already know. I don’t know, you have not proven it, you have lied along the way and can not correct it; you are a liar that feels he must be telling the truth because liars don’t make it into your Kingdom post death. Arghhhhh. Gosh, I guess I hope you are right and I am wrong, I would hate to tell you you’re going to Hell since I don’t believe that either, in my faith. But you did say something that is not true, you can’t prove it true, you doubled-down on it, you are telling a lie which makes you a ……

            oh yeah, I take lying in public personally. So should we all.

        • rick

          I knew you would not be able to give me any names because all democrats are liars and cheaters, at least I have not seen one yet that was not. You are the one that does word salad. Around and around you go with nothing to actually say. Just dazzle them with BS. The democrats are so lucky to have such a talent as you on their side.

          • frank stetson

            IF you answer my question, I will give yours a shot. the rest is blah blah blah

  3. concerned citizen

    These Democrats are con artists. Promises before election and a bogus unconstitutional executive order stating there would be student loan forgiveness. When are real American going to catch on about this deception, lies and con jobs?

    • frank stetson

      oh bullshit. I’m a Democrat, I said this was a sleazy use of the EO, an election-year ploy, a drop in the bucket and certainly no solution. Many Democrats, especially parents who footed the whole salami, agree this sucks.

      And I agree, there need to be EO limits, Congress is supposed to have a tighter rein on how approved funding is actually spent. That goes for both parties, Trump was no amateur as using the EO to spend for things Congress did not approve. And Obama. And Bush. And so on.

      But Democrats are no more con artists than Republicans in the unintended use of EOs to circumvent Congress’ control of the purse strings.

  4. Tom

    As an independent / unaffiliated voter, I am against this Biden Loan Forgiveness EO.

  5. Mack ewing

    Frank are you sure your name ain’t fedderman? You’re an idiot And yes, I have a college degree

    • frank stetson

      Mack, I’m not sure my name is even Frank….. Thanks for your kind response, but my name is not Fedderman or even Fetterman. Funny, though, I live in a very rural, gun filled, MAGA filled, vax needing county in NJ, west of me is the pocono’s and a lot of farm land. Taking a leaf tour last weekend, I saw so many Fetterman signs in front of rural, working class, homes that I was amazed. If that’s happening there, good luck with the man behind the screen: Ozzie.

      As to your degree — sarcasm alert. sorry, you missed it. I was just funnin. Of course all Republicans are not devoid of college degrees. It’s just that Republicans are free to have less education. And they do. “Democrats now hold a 12-point lead (52% to 40%) in leaned party identification among those with at least a college degree, up from just a four point gap seen as recently as 2010 (48% to 44%). Much of this advantage has come among adults with post-graduate experience; currently, 56% lean Democratic while just 36% lean Republican. Among those who have received a college degree but have no post-graduate experience, the gap is much narrower: 48% identify as Democrats or lean Democratic, while 43% affiliate with the GOP or lean Republican.”

      For public schools, I can show that the Red States, for the most part, but not in every Red State, suck in comparison to Blue States. FL is an anomaly rating number three, just behind NJ, as it always has been behind NJ. Pretty good 4-year schools there too. That’s what DeSantimonious is fucking with expecting his armed camps of educational restrictions, cancel culture, sexual education gutting, and book burnings to improve his rating by changing something with superior metrics to begin with—- RON, you gots nowhere to go but down, so why FUCK with it? Just saying what I have said for NJ for years. Be careful when you fuck with the top five educational systems expecting to go higher in the ratings and rankings as a return. Probably won’t happen.

      But you can see where less Republicans matriculate a 4-year stint —- they were also shorted by their parents for the first 12 years of education…..

      That’s statistics from PEW, pretty objective, non-biased, and factually correct.

      Probably not going to change your mind on my idiocy but does explain that less Republicans have college degrees, and that Red State public schools generally, but not always, rank lower than Blue State schools. Even that does not equate to Republicans being stupider, although I do have an opinion on that :>), yourself not included….. :>))

      • larry Horist

        Frank Stetson … you seem to have the Wizard of Oz theory that a diploma alone proves wisdom, knowledge and intelligence. My mother had a saying — and it was not a compliment. She said that some folks only know what they read in books. She rejects the implication that the less formally educated are incapable of understanding political issues and what affects their lives — what they believe is good public policy — is an arrogant and elitist. As a conservative, I have a respect and confidence in the collective wisdom of the American people. That is why I trust them to have maximum power in the political process. Left-wingers like you constantly proffer the “wisdom” of having an elitist group run the system FOR the people (you miss the “by” part) from a distant and unaccountable central government. That means taking more money and more power away from we the people. Your chest-pounding, back-slapping screeds reek of arrogant elitism. And you reliance on biased and one-sided links is an example of your narrow elitist view. Next Tuesday, I am betting that you will be confronted with the power and the WISDOM of the American people. If it is the GOP wave I see coming, I will be interested in your explanation. Too many stupid people? Exempting yourself, of course.