Tags: Barack Obama | Education | betsy devos | student loan | protections | obama

Betsy DeVos Whacks Student Loan Protections Set by Obama

Image: Betsy DeVos Whacks Student Loan Protections Set by Obama
(Olivier Douliery/Pool via Bloomberg via Getty Images)

Wednesday, 12 Apr 2017 01:00 PM

Education Secretary Betsy DeVos has withdrawn policy memos issued by the Obama administration that beefed up consumer protections for student loan borrowers, The Washington Post reports.

The newspaper said the Education Department is writing up new contracts to student loan servicing companies which collect payments and are responsible affordable repayment plans and those who owe from defaulting.

According to the Post, consumer complaints over mismanagement prompted the Obama administration "to shore up" the quality of servicing.

But on Tuesday, DeVos said: "This process has been subjected to a myriad of moving deadlines, changing requirements and a lack of consistent objectives.

"We must promptly address not only these shortcomings but also any other issues that may impede our ability to ensure borrowers do not experience deficiencies in service. This must be done with precision, timeliness and transparency."

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Education Secretary Betsy DeVos has withdrawn policy memos issued by the Obama administration that beefed up consumer protections for student loan borrowers, The Washington Post reports.
betsy devos, student loan, protections, obama
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2017-00-12
Wednesday, 12 Apr 2017 01:00 PM
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