DeVos Undoes Obama Student Loan Protections
I loathe these people. 
https://www.bloomberg.com/amp/news/articles/2017-04-11/devos-undoes-obama-student-loan-protections
Bloomberg
DeVos Undoes Obama Student Loan Protections
Trump’s education secretary wants to limit costs at a time when more than 1 million Americans are annually defaulting.
by Shahien Nasiripour
April 11, 2017, 2:36 PM EDT
Education Secretary Betsy DeVos on Tuesday rolled back an Obama administration attempt to reform how student loan servicers collect debt.
Obama issued a pair (PDF) of memorandums (PDF) last year requiring that the government’s Federal Student Aid office, which services $1.1 trillion in government-owned student loans, do more to help borrowers manage, or even discharge, their debt. But in a memorandum (PDF) to the department’s student aid office, DeVos formally withdrew the Obama memos.
The previous administration’s approach, DeVos said, was inconsistent and full of shortcomings. She didn’t detail how the moves fell short, and her spokesmen, Jim Bradshaw and Matthew Frendewey, didn’t respond to requests for comment.
DeVos’s move comes a week after one of the student loan industry’s main lobbies asked for Congress’s help in delaying or substantially changing the Education Department’s loan servicing plans. In a pair of April 4 letters to leaders of the House and Senate appropriations committees, the National Council of Higher Education Resources said there were too many unanswered questions, including whether the Obama administration’s approach would be unnecessarily expensive.
A recent epidemic of student loan defaults and what authorities describe as systematic mistreatment of borrowers prompted the Obama administration, in its waning days, to force the FSA office to emphasize how debtors are treated, rather than maximize the amount of cash they can stump up to meet their obligations.
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https://www.bloomberg.com/amp/news/articles/2017-04-11/devos-undoes-obama-student-loan-protections
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