Late last week, the U.S. Department of Education released its final borrower defense rule, an updated rule which will make it much harder for students who were defrauded or taken advantage of by their college or university to receive financial relief or otherwise hold the school accountable.
“More than ever, a higher education is the best path for a young person to find a job that helps them achieve their financial goals and build a stable life. But too many schools have failed to meet their obligation to the young people who invested in their education, leaving 180,000 borrowers buried in debt with degrees that won’t help them find a job.
Without robust protections for borrowers — and an administration willing to actually enforce them — predatory, for-profit colleges will continue exploiting students and taking advantage of the wild west mentality that has defined Betsy DeVos’ time at the Department of Education.”