Washington, D.C.— The Department of Education has announced the cancellation of $150 million in student loan debt from students who attended defunct for-profit colleges. Charlotte Hancock, communications director for Generation Progress, released the following statement:
Yesterday, Betsy DeVos’ Department of Education announced that it will finally comply with a federal judge’s order to eliminate the student loan debt of 15,000 borrowers. The Department’s compliance is a first step towards fairness and accountability. It will also bring much-needed relief to defrauded student loan borrowers. From her first day in office, Betsy DeVos has sought to restrict borrower defense rules that protect borrowers from greedy for-profit colleges. The for-profit industry has lobbied the Secretary to side with them and against borrowers, but a coalition of young people, students, borrowers, veterans, and higher education advocates have fought back against her industry-friendly policies. This ruling shows that Betsy DeVos is yet again on the wrong side of justice. While we welcome the DeVos Department’s compliance with the court order, our coalition will continue to advocate for students and defrauded borrowers until everyone deserving of loan forgiveness is treated fairly.
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