President Trump has a choice to make about overturning Obama-era student loan rule – By Aarthi Swaminathan (Yahoo) / May 20 2020
Both chambers of Congress passed legislation to reverse a proposed policy by Education Secretary Betsy DeVos that would have changed how defrauded victims of for-profit colleges could seek debt relief.
And on Tuesday, two months after the GOP-controlled Senate rejected the proposed policy, House Speaker Nancy Pelosi sent the resolution to President Trump’s desk.
The president now has 10 days to make a choice: Either sign the legislation and affirm that his education secretary made a mistake by attempting to overturn the Obama-era rule or veto the bill and risk a political fight over debt relief in the middle of a pandemic.
Proud to send @RepSusieLee’s bipartisan resolution to the President’s desk and protect tens of thousands of defrauded students, many of whom are hurting now more than ever, by blocking Devos’s harmful student borrower defense rule. @realDonaldTrump must sign it without delay. pic.twitter.com/nTptfApZr6
— Nancy Pelosi (@SpeakerPelosi) May 19, 2020
In January, Trump promised to veto the resolution, stating that it would “restore the partisan regulatory regime of the previous administration, which sacrificed the interests of taxpayers, students, and schools in pursuit of narrow, ideological objectives.”
Since then, amid the coronavirus pandemic, both Congress and the Education Department created policies to provide much-needed relief to the 44 million Americans holding student loan debt.
Continue to article: https://www.yahoo.com/finance/news/trump-choice-obama-era-student-loan-rule-175808736.html
