Tag: forgiveness

Trump administration tries to hamstring Biden on student loan forgiveness

The Trump administration on Wednesday sought to throw up a bureaucratic roadblock to progressives’ push for the incoming Biden administration to cancel large swaths of outstanding student loan debt through executive action.

Education Department officials released a memo, signed by an outgoing political appointee, that concludes that the agency lacks the power to unilaterally forgive federal student loan debt on the scale that some Democrats want.

The eight-page memo says that “the Secretary does not have statutory authority to provide blanket or mass cancellation, compromise, discharge, or forgiveness of student loan principal balances, and/or to materially modify the repayment amounts

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Outgoing Secretary of Education Betsy DeVos urged against student loan forgiveness in letter to Congress

U.S. Education Secretary Betsy Devos speaks during a White House coronavirus disease (COVID-19) task force briefing at the U.S. Education Department in Washington, U.S., July 8, 2020. REUTERS/Carlos Barria
U.S. Education Secretary Betsy Devos speaks at White House coronavirus task force briefing at the Education Department in Washington Reuters
  • Outgoing Secretary of Education Betsy DeVos advised Congress to vote against student loan forgiveness, according to a letter obtained by CBS News and Politico.

  • “Across-the-board forgiveness of college debts is not only unfair to most Americans, it is also the most regressive of policy proposals – rewarding the wealthiest sector of our labor force at the expense of the poorest,” she wrote.

  • In the apparent farewell letter addressed to Senate Majority Leader Mitch McConnell, DeVos outlined a number of education

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Elizabeth Warren fires at ‘unqualified billionaire’ Betsy DeVos over student loan forgiveness

Democratic presidential candidate senator Elizabeth Warren (D-MA) delivers a campaign speech at East Los Angeles College on 2 March 2020 in Monterey Park, California ((Getty Images))
Democratic presidential candidate senator Elizabeth Warren (D-MA) delivers a campaign speech at East Los Angeles College on 2 March 2020 in Monterey Park, California ((Getty Images))

Massachusetts senator Elizabeth Warren called US education secretary Betsy DeVos an “unqualified billionaire” after she criticised proposals for student loan forgiveness.

Ms Devos criticised proposals similar to ones included in President-elect Joe Biden’s economic recovery plan, which would forgive $10,000 (£7,516) individually for people who have borrowed student loans, according to Newsweek.

Speaking at an Education Department financial aid conference on Tuesday, Ms DeVos said: “We’ve heard shrill calls to cancel, to forgive, to

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Education Secretary Betsy Devos calls student debt forgiveness ‘a truly insidious notion’ and free college ‘a socialist takeover’ [Video]

Outgoing Education Secretary Betsy DeVos presented a spirited defense of her record after four years and skewered proposals from progressive politicians related to student debt cancellation and free college at the virtual 2020 Federal Student Aid (FSA) Training Conference on Tuesday.

“After nearly four years on the job, I want to take a few moments to reflect on the remarkable transformations that we led at FSA in recent years,” DeVos said at the beginning of the keynote speech, “and then discuss what still needs to be done for students.”

Read more: How to repay student loans: The full breakdown

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Education Secretary Betsy Devos calls student debt forgiveness ‘a truly insidious notion’ and free college ‘a socialist takeover’

Outgoing Education Secretary Betsy DeVos presented a spirited defense of her record after four years and skewered proposals from progressive politicians related to student debt cancellation and free college at the virtual 2020 Federal Student Aid (FSA) Training Conference on Tuesday.

“After nearly four years on the job, I want to take a few moments to reflect on the remarkable transformations that we led at FSA in recent years,” DeVos said at the beginning of the keynote speech, “and then discuss what still needs to be done for students.”

Read more: How to repay student loans: The full breakdown

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