Instant Alert: Betsy DeVos might scale back loan assistance for students defrauded by for-profit colleges

MANAGE SUBSCRIPTIONS   |   UNSUBSCRIBE   |   VIEW ONLINE   Betsy DeVos might scale back loan assistance for students defrauded by for-profit colleges by Maria Danilova on Oct 30, 2017, 4:46 AM Advertisement WASHINGTON (AP) — The Education Department is considering only partially forgiving federal loans for students defrauded by for-profit colleges. That's according to department officials. The change would abandon the Obama administration's policy of erasing that debt. Under President Barack Obama, tens of thousands of students deceived by now-defunct for-profit schools had over $550 million in such loans canceled. But President Donald Trump's education secretary, Betsy DeVos, is working on a plan that could grant such students just partial relief. SEE ALSO: Inside America's best high school — a boarding school that costs $53,900 a year and feeds students into the Ivy League   Share the latest business news with your network:    Email sent to:   |   Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy Business Insider. 150 Fifth Avenue, New York, NY 10011