1 year ago

Sam and Emma host Astra Taylor, co-founder of the Debt Collective and author of the recent book Remake the World: Essays, Reflections, Rebellions, to discuss the recent updates on President Biden’s student debt forgiveness plan. Astra Taylor then joins as she dives right into Biden revitalizing the student loan moratorium now that his debt relief has been put on hold, outlining how the moratorium could come to an end (via Supreme Court action, debt cancelation, or reaching June 30th), and where the Court battle current stands. Expanding on this, Astra, Sam, and Emma walk through why the Supreme Court’s conservatives (like Amy Coney Barrett) and their ideological obsessions might actually save student loan action, and why, despite that, an ideologically inconsistent result isn’t unexpected either. Wrapping up, they tackle the role of the Biden Administration in the future of this battle, walking through where the Debt Collective has been applying pressure, where Joe Biden’s mindset is currently at, and why the President so absolutely does have the authority to cancel this debt.

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A pleasure to welcome back to the program Astra Taylor. She's the co-founder of the Debt Collective. Author of her most recent book remakes the world essays Reflections and rebellions. Astra welcomes back. Thanks for having me. All right so today maybe it was yesterday I guess the Biden Administration announced that they are going to extend the existing I guess under the auspices of covid moratorium student loan debt repayment for everybody until at least I guess it would end in June and then 60 days later of 2023 it payments would come. Is supposed to be timed until after the Supreme Court can address the appeal from the administration on two different court cases. Just walk us through briefly those two different court cases and then you know the claims that are made in those court cases and the problem with those court cases and then we'll talk about the question of the authority under which the Biden Administration has issued the debt forgiveness ten thousand dollars for each student or I should say a borrower 20,000 if you had a Pell Grant. Yes, so I think first we want to parse the announcement from yesterday because it is contingent on multiple factors. And that is actually an unusual thing for the federal government to do to say contingent on the action from the court so the premises student debt payments will be turned back on 60 days after three things one of three things. The Supreme Court rules or debt is canceled, or June 30th. And whatever comes sooner you know the payments will turn on 60 days after that. In my opinion whatever happens at the latest let people plan you know or just give a firm date. Because again what's so hard for these for the millions of debtors out there is you know planning your life and knowing how much money is coming in and having that long long-term ability to manage your you know manage your own household budget. So you know what is very important about this though is that you know 60 days after the Supreme Court rules means that those are 60 days where you know payments are paused where the Biden Administration could use one of the other legal authorities that have to cancel student debt. Right now these cases that you mentioned are focused on the current plan from the administration which was based on one Authority.

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