Saturday, October 26, 2019

There goes another one

The Trump administration’s top student loan official said Thursday he will resign his position at the Education Department and will work for the cancellation of nearly $1 trillion in federally-administered student loan debt. A. Wayne Johnson says he’ll promote a plan that would forgive up to $50,000 for anyone with federal student loans, worth about $925 billion. He told the Wall Street Journal, “We run through the process of putting this debt burden on somebody … but it rides on their credit files — it rides on their back — for decades. The time has come for us to end and stop the insanity.” His high-profile resignation came as a federal judge on Thursday held Education Secretary Betsy DeVos in contempt of court for violating an order to stop collecting student debt for people who were defrauded by the for-profit chain Corinthian Colleges. [...] Under Thursday’s contempt of court ruling, DeVos will face no jail time and her Education Department will be fined $100,000.

  Democracy Now
...but hey, do what you want...you will anyway.

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