Restore the Borrower's Defense Against Repayment Program
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The Department of Education has frozen the Borrowers Defense to Repayment Program.
The Borrowers Defense Against Repayment Program was created to erase "the federal loan debt of student borrowers who were cheated by colleges that acted fraudulently".
This program was originally negotiated by the Obama Administration, and set to go live on July 1st, 2017, but Betsy DeVos (head of the Department of Education) recently "froze" the new rules from going into effect, calling them "a muddled process that's unfair to students and schools".
Mrs. DeVos has promised to create "a new rule-making committee to reconsider the matter from scratch", but she cannot be trusted to protect the financial interests of ordinary Americans, as has been made clear by her recent actions to eliminate the Public Service Loan Forgiveness Program.
In fact, Massachusetts attorney general Maura Healey made it quite clear that Mrs. DeVos is woefully disinterested in helping the American taxpayer, as "since Day 1, Secretary DeVos has sided with for-profit school executives against students and families drowning in unaffordable student loans."
The Borrowers Defense Against Repayment Program was the most powerful, most needed Federal Student Loan Forgiveness Program on the books in 2017, and the most important program for the hundreds of thousands of students impacted by the closures of ITT Tech, Corinthian Colleges, and several other massive for-profit schools.
Without the Borrowers Defense to Repayment Program, these Americans will be stuck with billions of dollars worth of Federal student loans that never should have existed in the first place.
This program was created to allow Americans to discharge loans that were created due to false promises and fraudulent claims by the schools who swindled students into believing they were purchasing a valuable education, but who received nothing but frustration and stress for their time and money.
The plan to eliminate the Borrowers Defense Against Repayment Program is an outrage to everyone who has been abused by for-profit schools, and it's elimination is sure to devastate the finances of thousands of American families.
We ask that Members of Congress do everything in their power to force Betsy DeVos and the Department of Education to restore the Borrowers Defense Against Repayment Program.
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