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Borrower Defense Rule Revoked by DeVos

Livinglies's Weblog

If there was any doubt about where the Trump administration stands with respect to borrowers and “lenders”, it has now been erased. The rule, intended to take effect this month, allowed victims of fraud to avoid liability on student loans.

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THIS ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.
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There is a direct correlation between fraudulent student loans and fraudulent home loans. In both cases the lenders are required by law to do due diligence; and in student loans they are required by standard industry practice to know whether the “college” or “university” is real and can confer an academic degree. While this may be an outgrowth of the Trump University allegations of fraud, it reveals a deeper set of commitment at the…

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