Education Secretary Betsy DeVos forced to cancel $150 million in student loans after losing court battle
* The Department of Education will cancel $150 million in student loans after losing a court battle.
* Students who borrowed loans to attend schools that shuttered between May 2013 and December 2018 can expect to see their debt erased soon.
* DeVos has been a critic of the Obama-era policy that erased debt for those who attended shuttered schools that violated the law or misled students.
The Department of Education will cancel $150 million in student loans after losing a court battle against an Obama-era borrower defense relief program that allowed people a chance to seek debt forgiveness if their schools shut down and violated the law or misled students. Education Secretary Betsy DeVos has been highly critical of the program, which she described in the past as giving students "free money."
In a statement, the Department said it has identified nearly 15,000 borrowers who are eligible to have their debt forgiven based on their attendance at a school that closed between November 1, 2013, and December 4, 2018. Around half of these borrowers, the Department said, had attended Corinthian Colleges, Inc. - a for-profit education company that shut down in April 2015...
Betsy DeVos forced to cancel $15 million in student loans - Business Insider