DeVos Undoes Obama Student Loan Protections
Trump’s education secretary wants to limit costs at a time when more than 1 million Americans are annually defaulting.
Betsy DeVos
Photographer: Andrew Harnik/AP PhotoThis article is for subscribers only.
Education Secretary Betsy DeVos on Tuesday rolled back an Obama administration attempt to reform how student loan servicers collect debt.
Obama issued a pair (PDF) of memorandums (PDF) 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 (PDF) to the department’s student aid office, DeVos formally withdrew the Obama memos.