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demmiblue

(36,751 posts)
Thu Mar 18, 2021, 08:19 PM Mar 2021

Students who got partial federal loan relief to see full discharge

Source: LA Times

Thousands of students defrauded by for-profit schools will have their federal loans fully erased, the Biden administration announced Thursday, reversing a Trump administration policy that had given them only partial relief.

The change could lead to $1 billion in loans being canceled for 72,000 borrowers, all of whom attended for-profit schools, the Education Department said.

“Borrowers deserve a simplified and fair path to relief when they have been harmed by their institution’s misconduct,” said Secretary of Education Miguel Cardona. “A close review of these claims and the associated evidence showed these borrowers have been harmed, and we will grant them a fresh start from their debt.”

The department said it was rescinding the formula used by the Trump administration to determine partial relief and putting in place “a streamlined path to receiving full loan discharges.”

Read more: https://www.latimes.com/world-nation/story/2021-03-18/students-who-got-partial-loan-relief-to-see-full-discharge

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Students who got partial federal loan relief to see full discharge (Original Post) demmiblue Mar 2021 OP
Wonderful news. Blue Dawn Mar 2021 #1
Elections Have Consequences - Good Ones With Biden Being Elected Indykatie Mar 2021 #2
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