Obama-era rule leads to $150M in student loan forgiveness
The U.S. Education Department said it will forgive $150 million in federal student loans as part of a 2016 rule that Secretary Betsy DeVos previously tried to block. Department officials began notifying 15,000 students on Friday that their loans will automatically be erased because they attended colleges that closed while they were still in school or shortly after they finished. About half of them attended campuses under the for-profit Corinthian Colleges chain, which collapsed in 2015 amid widespread accusations of fraud. The students are ...
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