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DeVos may only partly forgive some student loans

6 years 1 month 1 week ago Monday, October 30 2017 Oct 30, 2017 October 30, 2017 7:04 AM October 30, 2017 in News
Source: Associated Press
By: Associated Press

WASHINGTON- The Education Department is considering only partially forgiving federal loans for students defrauded by for-profit colleges. Department officials confirmed the change is being discussed. The change would abandon the Obama administration's policy of erasing that debt.

Under President Barack Obama, tens of thousands of students deceived by now-defunct for-profit schools had over $550 million in such loans canceled.

But President Donald Trump's education secretary, Betsy DeVos, is working on a plan that could grant such students just partial relief.

If DeVos goes ahead, the change could leave many students scrambling after expecting full loan forgiveness, based on the previous administration's track record. It's not immediately clear how many students might be affected.

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