DeVos Undoes Obama Student Loan Protections

Bloomberg -------- Education Secretary Betsy DeVos on Tuesday rolled back an Obama administration attempt to reform how student loan servicers collect debt. The former president's administration 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 two Obama memos. The Obama administration's approach, DeVos said, was inconsistent and full of shortcomings. She didn't detail how the moves fell short, and her spokesmen, Jim Bradshaw and Matthew Frendewey, didn't immediately respond to a request for comment. To learn more click on the picture below to read the article.