The court will cancel the debts of American students on 150 million dollars - ForumDaily
The article has been automatically translated into English by Google Translate from Russian and has not been edited.
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The court will cancel the debts of American students on 150 million dollars

The Ministry of Education has announced that it is canceling student debts of 15 000 borrowers by implementing the rule of the Obama era, which they wanted to block for more than a year.

Фото: Depositphotos

Debts written off will be about 150 million dollars, according to CNN.

The rule, known as Protecting borrowers from repayment, was designed to help students deceived by commercial colleges, to ease the debts in the field of education.

The statement arrived about two months after the federal judge ordered the rule to be applied immediately. The judge sided with the prosecutors general from 18 of the states and the District of Columbia, who sued De Vos for delaying the rule when she worked on changing it.

The cancellation of student loans will mostly affect students from schools that closed when they were enrolled.

About half of the debts will be repaid to borrowers who have visited one of the now defunct Corinthian Colleges.

The school network closed in 2015 after the government fined 30 millions of dollars for pointing out excessive employment rates, thereby misleading future students. At that time, about 16 000 students were enrolled in the remaining 28 campuses.

Но правило было разработано и для того, чтобы облегчить учащимся подачу заявления на получение помощи, если они считают, что школы вводили их в заблуждение, например, завышая показатели трудоустройства — даже если они не были зачислены на момент закрытия школ.

Many of these students still have debt relief applications.

«Это хороший первый шаг, но он недостаточно хорош, — сказал в своем заявлении сенатор-демократ Патти Мюррей, старший член сенатского комитета по образованию. — Я призываю секретаря Де Вос отказаться от попыток переписать правило защиты заемщиков, чтобы освободить коммерческие колледжи, и вместо этого полностью реализовать действующее правило и предоставить помощь более чем 100 000 заемщиков, которые были обмануты».

The Department of Education began sending emails to borrowers on Friday to notify them that their loan debts will be canceled over the next 30 – 90 days.

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