College Debt

Will repayment rules grow stricter?


With college debt reaching $1.5 trillion, Americans continue to default on their student loans at an alarming rate. The Trump administration has not made student debt a high priority, and critics say the administration’s few recommendations have favored debt collectors over borrowers. In a cost-saving move, Education Secretary Betsy DeVos reduced loan forgiveness for students defrauded by for-profit colleges and eliminated an Obama-era policy that awarded Federal Student Aid contracts to debt collection companies with the best records of helping borrowers. President Trump has called for eliminating a federal program that forgives remaining debt after 10 years for former students who work in certain public service jobs.

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