Tag Archives: Betsy Devos

a student with books - Photo by Element5 Digital on Unsplash

AFR, 56 Orgs support S.J. Res 56 to disapprove DeVos Borrower Defense rule

AFR joined 65 other organizations to write in support of S.J.Res. 56 and H.J.Res.76 to undo Education Secretary DeVos’ 2019 Borrower Defense to Repayment rule. The DeVos rule gutted the Obama Administration’s 2016 rule that added further protections to students who are entitled to debt cancellation after their schools broke the law. An analysis of the Department’s own calculations estimates that only 3 percent of the loans that result from school misconduct would be cancelled under the new rule. Schools would be held accountable for reimbursing taxpayers for just 1 percent of these loans.

AFR/CRL Poll: Bipartisan Majorities See $1.5 Trillion Student Debt Burden As Crisis

Majorities of American voters across parties believe that the student debt burden – now at $1.5 trillion – represents a crisis for the country, according to a new poll. The survey also found widespread concern with efforts by Mick Mulvaney, the Trump official installed at the head of the Consumer Financial Protection Bureau, to gut the agency’s student lending office.

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AFR Statement: Secretary Devos Once Again Puts Servicers Before Students

The ability for states to enact laws governing how servicers may interact with borrowers, and the ability of state Attorneys General to file lawsuits against servicers for consumer abuses, are crucial accountability mechanisms that must continue. That the Department would attempt in any way to prevent these state level efforts to defend borrowers simply shows that under Betsy DeVos, it is servicers before students.

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AFR Statement: DeVos Decision to Delay Borrower Defense is a Slap in the Face to Students

Americans for Financial Reform strongly condemns the decision by Secretary of Education Betsy DeVos to abandon the victims of predatory colleges by delaying the Borrower Defense rule. This is a slap in the face to defrauded Americans, and a stunning admission by the Department of Education that they intend to place wealthy for-profit college executives ahead of students striving for a better life.

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AFR Statement: AFR Urges the Senate to Reject Betsy DeVos for Education Secretary

“It is crucial that any nominee for Education Secretary of the Department of Education not only affirm the need to enforce existing rules that seek to protect both students and taxpayers from fraud, but also clearly articulate plans to rapidly pursue additional automatic group discharges. Betsy DeVos has done neither. Americans for Financial Reform urges the members of the Senate to reject Betsy DeVos’s nomination as Secretary of the Department of Education.”