The Washington -Biden administration has approved the last major batch in the rescue of student loans on Wednesday, awards $ 4.5 billion in the borrower of 261,000 people.
The beneficiary of the debt cancellation has attended Ashford University, a former profit school, who decided that the Ministry of Education had decided to determine the quality and cost of the program to the federal student loan borrower. The school was later acquired by the University of Arizona, and Zovio, the parent company of Ashford, joined the Arizona University Global Campus.
Federal government has shown the environment through the legal basis, a program that allows the federal government to allow fraudulent students to be discharged. The borrower approved through the program usually makes a loan to go to a school that has been found to have been engaged in fraud, such as exaggerating the amount that students can earn after graduation.
James Kuval, a secretary education, stated in a statement on Wednesday that states and local surveys have never graduated from Ashford students. He said that he could leave a large amount of debt and earn only low wages.
“Today’s announcement will eventually provide relief to students who harm Ashford’s wrongdoing,” said Kvaal.
The new batch with the debt canceled will occur a few days after the administration has passed the milestone of allowed nearly $ 200 billion student loan debt to more than 5 million borrowers during the Joe Biden presidential position. 。 Biden initially had the opposition of the Congress and some of the courts of the court, and his administration did not approach its goal, but his administration did not approach its goal.
The Education Department proposed on Wednesday to prohibit Andrew Clark, the founder of ZOVIO, to lead an institution to receive the Federal Finance Fund. Clark left the company in 2021. At that time, the chairman of the Zovio Board of Directors stated that he led him to “historical sales” and “established Zovio’s foundation, provides excellent services, and expands the ability to innovate and expand ED technical services. And the solution.
Since President Donald Trump is preparing to take office, the defenders of the borrower returned to the non -aggressive version of the program that had existed during Trump’s term, and approved as the 45th President. We are concerned about whether to approve. According to staff in the department, hundreds of thousands of borrowers are waiting for the answer of the borrowed defense discharge case.
Meanwhile, the Supreme Court, on the other hand, has decided to consider the appeal of the lower court of the Biden administration last week, and has decided to hinder regulations that make it easier to discharge borrowers. The rules have been banned since 2023.
This is one of the affordable policies of many Biden era, a stagnant in court. In a goodbye speech in the Washington DC’s Education Department, Secretary of Education Miguel Cardona is not convinced which regulations will survive the next government, but he remains optimistic about the future of American students. Was stated.
“I can’t spend too much time because of uncertainty,” he said. “The truth is that I leave with a lot of hope here.”
Zachary Schermele is an educational reporter for USA toDay. You can contact him zschermele@usatoday.com by email. Follow him with X of @zachschermele.
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