Dems fight for people. Republicans fight for Corporations. When will R-voters wake the F*CK up?!?!?!
A federal judge in September ruled that DeVos' efforts to stop the 2016 “borrower defense” regulations from taking effect was illegal. And in October, the same judge rejected a bid by for-profit colleges to immediately stop the regulations, clearing the way for them to take effect.
The debt cancellations will total about $150 million.
The rule, known as Borrower Defense to Repayment, was designed to help students cheated by for-profit colleges get relief on their education debt.
(ED: You know, like Trump University)
Those students who will immediately see their loans canceled were at schools that closed while they were enrolled. About half of the debt was owed by borrowers who attended one of the now defunct for-profit Corinthian Colleges.
Many of those students still have debt relief applications pending. "This is a good first step, but it's not good enough," said Democratic Sen. Patty Murray, a senior member of the Senate committee on education, in a statement.
"I call on Secretary DeVos to abandon her attempts to rewrite the borrower defense rule to let for-profit colleges off the hook and instead fully implement the current rule and provide relief to more than 100,000 borrowers who were cheated out of their education and savings," she said.
The Department of Education will begin emailing borrowers on Friday to notify them that their debts from the loans will be canceled within the next 30 to 90 days.