Historic black colleges urge Obama to stop ‘helping’ for fear of going broke
July 22, 2016 | Warner Todd Huston | Print Article
A group of black colleges recently organized to warn President Barack Obama that his new loan forgiveness rules could send them into bankruptcy.
Obama’s Department of Education has proposed new rules to make it easier for students to get their loans forgiven, but the group of historically black colleges (HBCU) are saying that the program would “open the floodgates” to lawsuits from students looking to get out of paying off their loans, The Hill reports.
“Should a disgruntled former or current student at an HBCU feel ‘misrepresented’ by their institution by any means, the broad language outlined in the proposed ED rule could open the floodgates for frivolous lawsuits that will only adversely affect the greater HBCU student body,” he group wrote in a letter sent to the Obama administration.
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