Barack Obama, Betsy Devos, News, Student Loan Payments, Student Loans -

Betsy DeVos undoes Obama student loan protections

Barack Obama, Betsy Devos, News, Student Loan Payments, Student Loans -

Betsy DeVos undoes Obama student loan protections

On Tuesday, Education Secretary Betsy DeVos pulled back protections that the Obama administration had put forward in order to help students who took out federal student loans.

Toward the end of his tenure as president, Barack Obama required that the Federal Student Aid office do more to help the recipients of student loans manage their debt or even get their debt forgiven. However, those memos have been formally withdrawn by DeVos, who said that they fell short of their aims and that they were inconsistent, though there was no further explanation given as to what those inconsistencies and shortcomings were.

“We must create a student loan servicing environment that provides the highest quality customer service and increases accountability and transparency for all borrowers, while also limiting the cost to taxpayers,” DeVos said.

However, DeVos’s move “will certainly increase the likelihood of default,” said David Bergeron, a senior fellow at the Center for American Progress, according to Bloomberg.

Illinois Attorney General Lisa Madigan agreed with Bergeron’s sentiment, noting: “The Department of Education has decided it does not need to protect student loan borrowers.”

Former Deputy Treasury Secretary Sarah Bloom Raskin also noted that the new policy would put loan collectors ahead of students in the eyes of the government.

The post Betsy DeVos undoes Obama student loan protections appeared first on theGrio.


Leave a comment

Related Posts

Black Hair Matters: The Affirmative Power of Politicians Like Ayanna Pressley and Stacey Abrams
When Ayanna Pressley got her Senegalese twists done for the first time about three years ago, it was a moment of affi...
Read More
Freshen Up Your Board Game Collection With This One-Day Amazon Sale
It’s not quite as jam-packed as Amazon’s Black Friday board game sale, but their 12 Days of Deals strategy game sale ...
Read More
It’s an Air Force Reserve Celebration Bowl rematch: Alcorn State vs. N.C. A&T Braves win SWAC title and and now bring their high-powered offense to bowl game
Well, it’s all set. The matchup for the Dec. 15 Air Force Reserve Celebration Bowl in Atlanta is actually a rematch: ...
Read More
HBO’s ‘Say Her Name’ has few answers about what happened to Sandra Bland But new documentary gives her a voice, even in death
The mother of Sandra Bland, the Illinois woman who committed suicide in a Texas jail after being hauled there for bac...
Read More

Tags