Betsy DeVos' Department of Education to curb college loan forgiveness, cutting estimated $13 billion

[yuiyoshida]

New rules proposed by Secretary of Education Betsy DeVos would impose stricter standards for students defrauded by for-profit colleges to qualify for relief on federal loans.

The planned rewrite of “borrower defense to repayment” rules, proposed on Wednesday by DeVos, would cut an estimated $13 billion in department spending -- primarily awarded directly to defrauded students as debt relief -- compared with Obama-era aid.

Raising the bar on federal loan relief claims, the proposal would require borrowers to prove that for-profit institutions either knowingly misled them or acted with “reckless disregard for the truth.”

The change would substantially limit Obama-era regulations, passed after the collapse of predatory for-profit colleges ITT Technical Institute and Corinthian Colleges, which granted borrowers aid for various breach of contract claims.

Borrowers would also be required to transfer existing credits and find an alternative institution to attend if their college closed. Previous rules had allocated funds for borrowers in the event that a student's for-profit school shuttered unexpectedly.

more..
https://abcnews.go.com/Politics/betsy-devos-department-education-curb-college-loan-forgiveness/story?id=56838833

[2naSalit]

1. In the picture...

notice how she clutches her purse holding it far from the thief in chief?

[Initech]

2. Great. More money for the ultra corrupt.

[bluestarone]

3. Well there's the money to pay

The fucking RUMP supporting farmers!!!! BUNCH OF FUCKING NO GOOD BASTARDS!!

[secondwind]

4. CAN THESE FUCKS GO ANY LOWER??!!??!