North Carolina's Attorney General Josh Stein joined 17 other states to sue Secretary Betsy DeVos over delayed implementation of new Obama Regulation to regulate student loans. People paying off student loans can apply to the federal government to forgive their debt. When Obama left office, 16,453 borrowers were waiting for loan cancellations that had already been approved, and more than 64,000 others had filed new applications.
Read more from the Daily Signal:
Under the banner of student loan borrower protection, the Obama administration placed significant regulations on institutions of higher education. The most egregious of which is called “borrower defense to repayment,” which opens the door for students to claim that their university was fraudulent for virtually any reason.
If the school is found guilty of defrauding a student, which does not require proof that a school intended to commit fraud, a student can have his student loans discharged.
Under the leadership of Secretary Betsy DeVos, the Department of Education has delayed the enforcement of this rule, which was set to go into effect July 1.
The District of Columbia, along with 18 other states, have now filed a lawsuit against the Department of Education, claiming that this delayed action is illegal.
Read more here.