Education Secretary Betsy DeVos late Friday issued a new rule on loan forgiveness for students defrauded by their colleges, a rewrite of Obama-era regulations that advocates say will make it tougher for students to get relief. DeVos said schools must be held accountable but the Obama rule wasn't
WASHINGTON — Education Secretary Betsy DeVos late Friday issued a new rule on loan forgiveness for students defrauded by their colleges, a rewrite of Obama-era regulations that advocates say will make it tougher for students to get relief.
DeVos' rewrite of the so-called borrower defense to repayment rule is the latest in the Trump administration's campaign to scale back Obama-era regulations targeting for-profit colleges. It also rescinded a 2014 gainful employment rule that aimed to cut off federal funding to programs that consistently left graduates with high student debt that they would be unable to pay off.
"There is no place for fraud in higher education, and it will not be tolerated by this administration," DeVos said. There also would be a three-year limitation on filing a claim, either from the date of a student's graduation or the school's closure."That will weed out about 30 percent of claims that would otherwise prevail," Kvaal said, citing the department's own estimates.
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