US Education Secretary Betsy DeVos is under scrutiny once again for her stance on the student loan forgiveness programs.
Minnesota is the latest addition to the list of states (and districts) suing DeVos.
Since the Trump administration, government student loan forgiveness programs have been under attack.
StarTribune has the story.
Student Loan Forgiveness Programs Delay Probe DeVos
Minnesota has joined 17 states and the District of Columbia in suing U.S. Secretary of Education Betsy DeVos for rescinding a rule that would have let students take for-profit colleges to court and have their education loans forgiven in cases of fraud.
The suit comes a few weeks after DeVos announced plans to delay and renegotiate what was known as a “borrower defense rule.”
(Did You Know? Laws surrounding forgiveness and student loans are constantly changing. Don’t wait to take advantage of forgiveness or see if you qualify. Use the Definitive Guide to Qualifying for Student Loan Forgiveness to figure out if you can qualify and how to apply for forgiveness. Click here to learn more and get the free guide.)
The Trump administration is repeating familiar moves.
Current US Education Secretary Betsy DeVos is making drastic changes to the student loan forgiveness program once again.
Over the past few months, DeVos has made similar gestures.
She proposed a change to the student loan forgiveness for teachers, coming close to abolishing the entire program.
Now, DeVos is altering another important rule.
If DeVos succeeds, borrowers will no longer have anything protecting them from student loan fraud.
Conflict of Interest
Federal student loan forgiveness program hits legal snag https://t.co/yGWSiaaDUV pic.twitter.com/2FjxktxruU
— WPEC CBS12 News (@CBS12) August 8, 2017
Fraudulence when it comes to student loans is not new.
There are a lot of for-profit colleges who are able to steal money from students undetected.
The good news is there is a rule that allows a student to have their student loans forgiven if such fraudulence is proven.
Unfortunately, this rule is close to being rendered obsolete.
#StudentLoanForgivenessProgram at a Standstill under Trump Administration: https://t.co/vj1raF07vq
— Stephanie Bousley (@TheDebtRebel) July 31, 2017
As all borrowers know, the student loan forgiveness program is a tremendous help.
It does not matter if there is a grievous case of cancellation or qualification under the program.
The student loan forgiveness program is a useful source of aid.
Therefore, it makes no sense to eliminate a protective rule if the government is truly concerned about the welfare of its citizens.
One cannot help but wonder: are for-profit colleges the only thing one should worry about? Is it possible that the government itself has developed for-profit inclinations?
Preparing for the Worst
The recent turn of events is not optimistic.
In times like this, the doctors’ golden advice apply: prevention is better than cure.
Therefore, to steer clear of for-profit colleges that might potentially commit such fraud, do your research.
Look for the best college to go to. Find out how it’s run. Avoid potential risks that come with applying to these colleges. Seek the best student aid available.
The government may eliminate the means by which one could get out of debt, but no one can ever take away your ability to find the best help for your needs.
Watch this video from ABC Action News to find out about events surrounding the student loan forgiveness program:
What are your thoughts on the student loan forgiveness program? Let us know in the comments below.
Up Next: Careers That Forgive Student Loans
(Did You Know? Laws surrounding forgiveness and student loans are constantly changing. Don’t wait to take advantage of forgiveness or see if you qualify. Use the Definitive Guide to Qualifying for Student Loan Forgiveness to figure out if you can qualify and how to apply for forgiveness. Click here to learn more and get the free guide.)
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