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<blockquote data-quote="SueEllenRules!" data-source="post: 54984" data-attributes="member: 87">Education Secretary Betsy DeVos Withdraws Obama-Era Student Loan ProtectionsPresident Trump’s Education Secretary Betsy DeVos undercut student loan protections on Tuesday that were put in place by the administration of former President Barack Obama.<ul>
<li data-xf-list-type="ul">The Obama policy memorandums withdrawn by DeVos required that the government’s Federal Student Aid office do more to help borrowers manage or discharge their debt, Bloomberg reports.</li>
<li data-xf-list-type="ul">DeVos said in a press memo that she was rescinding the previous administration’s list of demands to “demonstrate sound fiscal stewardship of public dollar” and limit the cost to taxpayers. The move came after a letter from industry lobbying National Council of Higher Education Resources asking Congress to alter or delay the Education Department’s changes.</li>
<li data-xf-list-type="ul">Then-President Obama issued the guidance after a wave of student loan defaults and allegations that lenders were providing false information, charging unexpected fees and cheating borrowers out of repayment rights.</li>
<li data-xf-list-type="ul">The guidelines also aimed to reduce awarding contracts to firms who mistreated or misled borrowers. The current contracts are set to expire in 2019.</li>
</ul><a href="https://apple.news/APB0CV1KbTd6-42oaMvV32w" target="_blank">https://apple.news/APB0CV1KbTd6-42oaMvV32w</a></blockquote>

[QUOTE="SueEllenRules!, post: 54984, member: 87"] [B][SIZE=6]Education Secretary Betsy DeVos Withdraws Obama-Era Student Loan Protections[/SIZE][/B] [I]President Trump’s Education Secretary Betsy DeVos undercut student loan protections on Tuesday that were put in place by the administration of former President Barack Obama.[/I] [LIST] [*]The Obama policy memorandums withdrawn by DeVos required that the government’s Federal Student Aid office do more to help borrowers manage or discharge their debt, Bloomberg reports. [*]DeVos said in a press memo that she was rescinding the previous administration’s list of demands to “demonstrate sound fiscal stewardship of public dollar” and limit the cost to taxpayers. The move came after a letter from industry lobbying National Council of Higher Education Resources asking Congress to alter or delay the Education Department’s changes. [*]Then-President Obama issued the guidance after a wave of student loan defaults and allegations that lenders were providing false information, charging unexpected fees and cheating borrowers out of repayment rights. [*]The guidelines also aimed to reduce awarding contracts to firms who mistreated or misled borrowers. The current contracts are set to expire in 2019. [/LIST] [URL]https://apple.news/APB0CV1KbTd6-42oaMvV32w[/URL] [/QUOTE]

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