Burr And Foxx Say Dept. Of Ed Is Rushing Rules To Help Student Loan Borrowers
Edward Conroy
July 19, 2022
Last week, the Department of Education (ED) officially published draft regulations designed to increase protections for borrowers and make it easier for them to access loan discharges in certain situations. ED is accepting public comments on the proposals for 30 days (until August 12). Representative Virginia Foxx (R-NC) and Senator Richard Burr (R-NC)—ranking members of the House and Senate Committees, respectively, with jurisdiction over higher education law—believe ED is providing too little time for the public to weigh in and suggest politics is driving the timing of the regulations.
The proposed rules cover seven topics, including borrower defense to repayment (BD). This regulation provides a way for students defrauded by an institution of higher education to have their loans forgiven. In addition, there are improvements to the Public Service Loan Forgiveness (PSLF) process, which provides loan forgiveness after 120 qualifying payments to those working in government or for non-profit organizations.
