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Warren blasts DeVos on reducing loan forgiveness

Warren blasts DeVos on reducing loan forgiveness
© Greg Nash

Sen. Elizabeth WarrenElizabeth Ann WarrenTrump's SEC may negate investors' ability to fight securities fraud Schatz's ignorance of our Anglo-American legal heritage illustrates problem with government Dems ponder gender politics of 2020 nominee MORE (D-Mass.) ripped Education Secretary Betsy DeVosElizabeth (Betsy) Dee DeVosAmerican women will decide who wins and loses in 2018 elections Trump, Pence to address CPAC this week House Dems call for first Education Committee hearing on school shootings since Sandy Hook MORE's decision to reduce loan forgiveness for some defrauded students, calling the move "a stingy & ridiculous scheme."

"After almost a year of inaction – and over 100k defrauded students waiting for answers – @BetsyDeVosED has a stingy & ridiculous scheme for making many of them pay the fed govt money they don’t owe. It’s shameful," Warren said in a tweet on Thursday.

 

"When sleazy for-profit colleges break the law & cheat students, the law says these defrauded students can get their entire student loan cancelled. But @BetsyDeVosED found a way to do as little as possible to help as few students as possible," she said in another tweet. 

 

Warren's comments come after DeVos unveiled new rules for giving aid to students who say that they were defrauded by colleges.

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“No fraud is acceptable, and students deserve relief if the school they attended acted dishonestly. This improved process will allow claims to be adjudicated quickly and harmed students to be treated fairly,” DeVos said in a statement.

DeVos's move marks a departure from Obama-era rules, which allowed full loan forgiveness to defrauded students.

Under the new rules, student loan forgiveness would be determined by the affected student's income.

The department said students making less than half of what their peers earn will receive full relief.