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$150m in student debt to be erased

Posted at 12:29 AM, Dec 15, 2018
and last updated 2018-12-15 00:30:12-05

US — The Department of Education is set to erase 150-million dollars worth of student debt.

Officials will do so thanks to an Obama-era rule called the “Borrower Defense to Repayment,” which benefits students who were taken advantage of by for-profit colleges.

The move is expected to benefit 15,000 borrowers that were in schools that shut down during the time they were still enrolled.

Education Secretary Betsy DeVos tried to block the rule for months; however, a federal judge ordered the rule be re-implemented.