WASHINGTON (AP) — Preliminary data obtained by The Associated Press show the Trump administration is granting only partial loan forgiveness to the vast majority of students it approves for help because of fraud by for-profit colleges. The data demonstrate the impact of Education Secretary Betsy DeVos' new policy of tiered relief, in which students swindled by for-profit schools are compensated based on their earnings after the program. Of the roughly 16,000 fraud claims approved thus far by the Education Department under DeVos, slightly more than 1,000 students received full forgiveness on their loans. The Education Department points to DeVos' remarks in December saying the approach is fairer for taxpayers a nd more efficient for students. But critics say DeVos is favoring industry interests in her push to ease regulations for the for-profit sector. Read more on NewsOK.com
Under Devos, Full Loan Relief Rare For For-profit Students
NewsOK.com RSS - business >> !The Oklahoman, Daily Oklahoman: Business
Fri, 09/07/2018 - 12:44pm
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