DeVos Rolls Back Obama Protections On Student Loan Collection
Secretary of Education Betsy DeVos rescinded Obama-era reforms meant to protect student loan borrowers and increase accountability of student loan companies. DeVos sent a memo to James Runcie, chief operating officer of Federal Student Aid, on Tuesday to remove the guidelines because they showed a "lack of consistent objectives" that could potentially cause borrowers to experience a "deficiency in service." She also cited “cost-effectiveness” as a reason to do away with the protections. So what does removing the guidelines mean for student loan borrowers?
Morning Shift talks to Danielle Douglas, Washington Post reporter covering the economics of higher education.