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Trump Administration cuts aid to students defrauded by for-profit colleges

Trump’s Education Secretary Betsy DeVos is changing regulations on student protections with regard to for-profit schools. Now students defrauded by for-profit collegeswill receive only partial loan forgiveness according to The Associated Press. Trump is rescinding the Obama administration’s practice of forgiving the debts of students deceived by the now-defunct Corinthian Colleges.

 “Critics accuse the department of protecting industry interests, but DeVos says the Obama-era rules were too broad and could be misused at taxpayers’ expense,” according to Associated Press writer Maria Danilova.

Source: “For-profit loan forgiveness program faces deep cuts,” published in The Salt Lake Tribune, January 31, 2018, p. A6.

Source: Financial Planning for Women