What Betsy DeVos Wants To Do To Your Student Loans

"The tide is turning at the Department of Education. The Obama administration put rules in place to strengthen the rights of student borrowers and make debt repayment easier. But Education Secretary Betsy DeVos has already impeded some of those efforts," CNN Money reports.
 
"What the agency does next regarding student loans affects 40 million Americans who borrowed money from the government to pay for college.
 
'We haven't heard any concrete plans from the administration,' said Megan Coval, [vice president of] the National Association of Student Financial Aid Administrators.
 
'But I think if they completely abandoned some of the Obama initiatives, it would be a real disservice to student loan borrowers,' Coval said. ...
 
A trade group representing student loan servicers has criticized the bidding process and called on lawmakers to review whether moving to a single platform would benefit borrowers.
 
But student borrower advocates had applauded the single platform system.
 
'This was a pretty common sense solution that wasn't particularly controversial. To see it go without context for what the department plans to do does cause a little bit of concern,' Coval said."
 
NASFAA's "Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

 

Publication Date: 4/24/2017

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