Govt to cancel $6 billion in student debt

[tsptalk]

I'll bet the folks who have paid off their loans are happy about this.

Education Department agrees to cancel $6 billion in debt for some 200,000 student loan borrowers

The U.S. Department of Education has agreed to cancel the student loans of around 200,000 people who had brought a class action lawsuit against it.

The former students claimed they were stuck with federal debts by schools that had been found to engage in misconduct.

https://www.cnbc.com/2022/06/23/edu...ancel-200000-student-loan-borrowers-debt.html

 

[flalaw97]

I am. It is a settlement agreement! The government cancelling the debt of those duped by schools using predatory lending practices. The fact that I paid off my loan has no impact on whether these people should have their debt cancelled. The article's Key Points:

• The U.S. Department of Education has agreed to cancel the student loans of around 200,000 people who had brought a class action lawsuit against it.
• The former students claimed they were stuck with federal debts by schools that had been found to engage in misconduct.

 

[nasa1974]

I am. It is a settlement agreement! The government cancelling the debt of those duped by schools using predatory lending practices. The fact that I paid off my loan has no impact on whether these people should have their debt cancelled. The article's Key Points:

• The U.S. Department of Education has agreed to cancel the student loans of around 200,000 people who had brought a class action lawsuit against it.
• The former students claimed they were stuck with federal debts by schools that had been found to engage in misconduct.

What happened to these students wasn't right, but I think they shouldn't get a 100% free pass. I guess it depends on what or how much of the student loan will be paid off/cancelled.

 

[Bullitt]

I remember back in the day when DeVry and ITT Tech advertised heavily on TV and radio. Turns out they were two of the fraudster colleges.