Department Of Education Releases New Student Loan Forgiveness Rule

The video discusses a new rule on loan forgiveness for students defrauded by colleges. The rule aims to treat students and taxpayers fairly but faces criticism for making debt cancellation harder. It revises Obama-era policies, which DeVos claims were ineffective. The rule is expected to save $11.1 billion over ten years. Critics argue it allows schools to exploit federal aid while the rule applies to loans from July 1, 2020, onwards.

What changes does the new rule implement compared to the Obama era policies?

What concerns does the chairman of the House Education Committee have regarding the new rule?