Here’s Why Forgiving Student Debt Isn’t So Simple

Stakeholders air grievances with debt forgiveness rule

by Jillian Berman
Market Watch

Sweeping rhetoric about a future with free (or debt-free) college education may be capturing national attention, but a wonky government rule making process that could wipe away current student loans for thousands is quietly playing out.

The Department of Education proposed rules earlier this summer clarifying how and when borrowers who believe they were duped by their schools can have their loans forgiven. The monthslong rule making process comes in the wake of the collapse of Corinthian Colleges, once one of the largest for-profit chains in the country. The company filed for bankruptcy last year amid allegations it lured students with inflated job placement and graduation rates.

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