DeVos: Defrauded students may only get partial loan relief
Source: Associated Press
Collin Binkley, Ap Education Writer
Updated 6:18 pm CST, Tuesday, December 10, 2019
Students who are cheated by their colleges will receive full loan forgiveness only if they end up earning far less than their peers, while others will receive relief between 25% and 75% of their debt under new rules unveiled Tuesday by the U.S. Education Department.
The policy is a departure from the Obama administration, which provided full loan forgiveness in cases of fraud, and it marks the second time the Trump administration has attempted to provide only partial loan relief. A federal court blocked a previous attempt in 2018 after it determined the Education Department violated privacy laws to gather income information.
“We cannot tolerate fraud in higher education, nor can we tolerate furiously giving away taxpayer money to those who have submitted a false claim or aren’t eligible for relief," DeVos said in a statement.
The policy devises a new formula to determine how much federal debt students should have erased under the department's Borrower Defense program. The Obama administration expanded the program in 2016 to forgive debt for thousands of students harmed by the Corinthian Colleges chain, which shut down following findings that it had lied to students about job placement rates.
Read more: https://www.chron.com/news/education/article/DeVos-Defrauded-students-may-only-get-partial-14897115.php
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taxpayers have to pay for this crap...........................she is judge, jury and the executioner all rolled into one......................maybe this hypocrite should look at her boss who is under indictment and he is a traitor and what he did with his "university" scam......................
November 3, 2020 cannot get here fast enough......................
Response to Javaman (Reply #4)
