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Author Topic: DeVos to cancel $150 million in student loan debt  (Read 569 times)

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Offline TomSea

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DeVos to cancel $150 million in student loan debt
« on: December 14, 2018, 12:49:24 pm »
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DeVos to cancel $150 million in student loan debt
Kristin Lam

The Education Department said Thursday it will cancel $150 million in federal student loan debt, despite Secretary Betsy DeVos' efforts to overhaul the Obama-era policy.

DeVos proposed restricting "borrower defense" claims filed by former students whose schools closed or made false promises, but has to carry out regulations after court rulings sided with students.

Three months ago, a federal judge ruled that DeVos' attempts to kill the 2016 regulations were illegal, Politico reported. The judge also rejected for-profit colleges' bid to stop the policy in October.

Read more at: https://www.msn.com/en-us/news/us/devos-to-cancel-dollar150-million-in-student-loan-debt/ar-BBQVLB7?li=BBnb7Kz&OCID=ansmsnnews11

In some cases, their schools closed. I don't know if I have heard of many of those cases. I am aware of one though. Not a household word though.
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Offline Elderberry

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Re: DeVos to cancel $150 million in student loan debt
« Reply #1 on: December 14, 2018, 03:37:53 pm »
Your Central Valley By: Dennis Romero 12/14/2018

"It’s disappointing that it took a court order to get Secretary DeVos to begin providing debt relief to students," said U.S. Sen. Patty Murray.

(NBC News) - The U.S. Department of Education announced Thursday it would automatically cancel $150 million in student loans connected to for-profit colleges that closed in recent years.

The move was made under an Obama-era policy that a federal judge in October essentially forced U.S. Secretary of Education Betsy DeVos to implement. The story was first reported by Politico.

More: https://www.yourcentralvalley.com/news/education/dept-of-education-to-cancel-150-million-in-student-loan-debt/1659700748
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Offline TomSea

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Re: DeVos to cancel $150 million in student loan debt
« Reply #2 on: December 14, 2018, 03:54:18 pm »
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Online Hoodat

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Re: DeVos to cancel $150 million in student loan debt
« Reply #3 on: December 14, 2018, 04:24:53 pm »
If this is from the Obama Government School Loan Monopoly, then this is simple government graft.  The loans were a scam from Day One.
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