House to Vote on New Rule on Borrower Defense
On Thursday, the House is expected to vote on a measure to rescind the Administration's rule on student loan forgiveness.
The resolution is aimed at overturning U.S. Secretary of Education Betsy DeVos’ Borrower Defense rule, which would make it more difficult to cancel student loan debt. The rule, established during the Obama era, was created as a mechanism for federal student loan borrowers to cancel their debt based on a college’s misconduct.
The measure to be considered on Thursday, which needs a simple majority vote in the House and Senate, would revert the rule back to the 2016 Obama policy. A Senate vote is also expected in the coming months. If the resolutions fail, the rule is set to take effect on July 1, 2020.
Read the House Joint Resolution here.
Read the Senate Joint Resolution here.
Read the Final Rule here.