Comment Re:Congress is the one with the purse (Score 1) 328
it's the equivalent of the government refunding the money the person was supposed to pay back.
Government gives $100 loan. Student borrower gives $100 at a later date to repay the loan. At no point did the borrower give the government anything in excess of zero dollars. ($100 loan - $100 payback = zero net dollars). There is nothing to 'refund'. The student never had $100 of their own money to give the government, it was the government's $100 all along.
Keep in mind that people sometimes have to declare loan forgiveness as income.
Yes. Correct. I'm going to let you mull over your very own statement to see if you can figure out how you just sabotaged your own argument.
I'll give you a hint: The French company ain't having to declare their refund as income...