Betsy DeVos Loses Student Loan Lawsuit Brought by 19 States – Bloomberg

Betsy DeVos Loses Student Loan Lawsuit Brought by 19 States – Bloomberg

The Obama administration created the rule in the wake of revelations that some for-profit colleges enticed students with promises of an education and diplomas that would allow them to get jobs in their chosen fields. In reality, many of those certifications weren’t recognized by prospective employers, leaving graduates saddled with student loans they couldn’t repay.

The Borrower Defense regulations changed the rules for forgiving student loans in cases of school misconduct and required “financially risky institutions” to be prepared to cover government losses in those instances, according to U.S. District Judge Randolph Moss’s 57-page ruling.

via Betsy DeVos Loses Student Loan Lawsuit Brought by 19 States –– Bloomberg

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