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DeVos to Cancel $150 Million in Student Loan Debt

December 14, 2018

The Education Department said Thursday that it would carry out part of the Obama administration's 2016 borrower-defense rule, automatically canceling the student loan debt of 15,000 borrowers whose colleges closed between November 2013 and December 2018.

The department will cancel about $150 million in student loan debt over all, including about $80 million owed by borrowers who attended Corinthian Colleges.

The move comes after Education Secretary Betsy DeVos lost a legal battle in federal court this fall over the enforcement of the 2016 rule. One of the provisions provides for automatic loan discharge for student borrowers whose college closed three years ago and who never enrolled at another institution.

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Andrew Kreighbaum

Andrew Kreighbaum joins Inside Higher Ed as our federal policy reporter. Andrew comes to us from The Investigative Reporting Workshop. He received his master's in data journalism at the University of Missouri, and has interned at USA Today and a national journalism institute in Columbia, MO. Before getting his master's, Andrew spent three years covering government and education at local papers in El Paso, McAllen and Laredo, Texas. He graduated in 2010 from the University of Texas at Austin, where he majored in history and was news editor at The Daily Texan.

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