Betsy Devos is making it clear that she doesn’t care about students. Ana Kasparian, Brett Erlich, and Kim Horcher, the hosts of The Young Turks, tell you how she is making it easier to scam students.
“Education Secretary Betsy DeVos on Tuesday rolled back an Obama administration attempt to reform how student loan servicers collect debt.
Obama issued a pair of memorandums last year requiring that the government’s Federal Student Aid office, which services $1.1 trillion in government-owned student loans, do more to help borrowers manage, or even discharge, their debt. But in a memorandum to the department’s student aid office, DeVos formally withdrew the Obama memos.
The previous administration’s approach, DeVos said, was inconsistent and full of shortcomings. She didn’t detail how the moves fell short, and her spokesmen, Jim Bradshaw and Matthew Frendewey, didn’t respond to requests for comment.
DeVos’s move comes a week after one of the student loan industry’s main lobbies asked for Congress’s help in delaying or substantially changing the Education Department’s loan servicing plans. In a pair of April 4 letters to leaders of the House and Senate appropriations committees, the National Council of Higher Education Resources said there were too many unanswered questions, including whether the Obama administration’s approach would be unnecessarily expensive.”
Read the full story here: DeVos Undoes Obama Student Loan Protections
