Can The President Cancel Student Debt?

(Source) Student loan forgiveness has been a popular topic in the news lately.  This should not come as a surprise considering there are over 43 million student borrowers in the United States, each with an average debt size of $39,351. As the current total student loan debt in the United States tops $1.7 trillion, President Biden has called for cancelling $10,000 federal student loan debt for every borrower. In fact, in April 2021, President Biden even tasked the Departments of Education and Justice with drafting a memo on whether he has the legal authority to cancel student debt. However, since this memo has not yet been released to the public, the answer remains unclear. This article will broadly explore arguments regarding the President’s legal authority to cancel federal student loan debt.  To start, the Biden administration has actually already cancelled nearly $10 billion in federal student loan debt as of late 2021. However, this relief was only available to borrowers with disabilities and to victims of college fraud. The legal basis for cancelling the federal student loan debt of borrowers with total and permanent disabilities is the Higher Education Act of 1965, while the Department of Education’s “Borrower Defense to Loan Repayment” regulation [read more]

It’s Time to Pay the Student-Athletes

It seems as if every year a new NCAA scandal emerges. This year, an FBI investigation revealed corruption, bribery, and fraud between assistant coaches, universities, investment firms, and Adidas affiliates. The biggest school involved is the University of Louisville, which is a college basketball powerhouse. In the complaint of the criminal case, U.S. v. James Gatto, it is alleged that James Gatto (Adidas’ global sports marketing director for basketball), Merl Code (a former NCAA basketball player now associated with Adidas), and Munish Sood (the founder of investment services firm Princeton Capital) paid $100,000 to a high school recruit to commit to Louisville. The case also alleges that Sood would manage the player’s money and the player would sign with Adidas when he entered the NBA. The investigation suggests that Rick Pitino was involved in this corruption, and as a result, Pitino was fired on October 16, 2017. Under the current NCAA model, student-athletes are considered amateurs and cannot be paid. It is a model that emphasizes the “spirit of the game”, and pays student-athletes with a value of an education. Education is extremely important; however, its value is minuscule compared to how much money these top college football and basketball programs [read more]