More on Consumer Protection
Anger against the pharmaceutical industry is growing. A Gallup poll published in September put the industry at the bottom of the heap among 25 sectors rated annually on their popularity. Nearly 60 percent of respondents said they had a negative view of the industry. People liked government more, with 52 percent seeing bureaucracies in a negative light.
U.S. Rep. Suzanne Bonamici, whose district covers much of northwest Oregon including parts of Portland, was one of several Democratic members of the House Education Committee to press Education Secretary Betsy DeVos on the agency’s decision to restrict debt relief for former students of shuttered for-profit colleges.
More than 200,000 students say despite the promise of a job post-graduation from mostly for-profit colleges, they have nothing to show for it except mountains of debt.
Education Secretary Betsy DeVos faced scrutiny from lawmakers on Capitol Hill for the Department of Education's implementation of a loan forgiveness rule aimed to help defrauded students called Borrower Defense.
"These students were misled and cheated and the fact that some of them may be making money doesn’t mean they weren’t defrauded," said Rep. Suzanne Bonamici, a Democrat from Oregon.
Secretary of Education Betsy DeVos on Thursday defended her decision to move ahead with partial loan forgiveness for students defrauded by for-profit colleges, pushing back on criticism from Democrats over her approach.
We’re closing in on year three since the U.S. Department of Education (DOE) was tasked with canceling federal student loans for thousands of consumers. These students were victimized by predatory for-profit colleges like Corinthian Colleges, which, at its peak, operated more than 100 campuses in the U.S. and Canada.
Tensions ran high at a House Education and Labor Committee hearing on Thursday, where Democrats questioned U.S. Secretary of Education Betsy DeVos about her implementation of the borrower’s defense rule, the provision that allows loan forgiveness for defrauded students.
Two-year-old memos took center stage at a House Education Committee hearing on Thursday where Education Secretary Betsy Devos defended her position to only issue partial relief to some students who were defrauded by their schools.
Education Secretary Betsy DeVos endured a withering barrage of questions on Thursday about her handling of a program meant to provide debt relief to federal student loan borrowers who say they were defrauded by for-profit colleges.
The education secretary said “many students” got “a valuable education” from for-profit colleges as officials planned a round of notifications to applicants for full relief, 95 percent denials.