A Trillion Dollars of Student Debt, and DeVos Wants to Protect Lenders, Not Students

Diane Ravitch's blog

Susan Dynarski of University of Michigan wrote an article in The New York Times about the trillion dollars of outstanding debt for college loans, and the Trump administration’s regulatory decisions that will help and protect the lending industry, not the students.

As the saying goes, elections have consequences. Hillary Clinton adopted Bernie Sanders’ pledge to make higher education free for students whose family income was less than $125,000. Trump offered nothing, and DeVos made clear in her confirmation hearings that she was not at all concerned about students who were burdened by crushing debt.

So the consequence of the 2016 elections is that Betsy DeVos is rolling back efforts by the Obama administration to regulate the businesses that make student loans and protect students from predatory practices. She is also making it harder for students to apply for student aid by removing access to an online program created for that…

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