Released: December 13, 2022
3 ways student borrowers were protected in 2022
Source: Madison Weiss, Center for American Progress
The Biden administration’s new Borrower Defense to Repayment rule protects students from repaying their federal student loans if those loans “were taken out as a result of a school’s fraudulent, misleading or illegal acts.” Borrowers can now submit a claim if they believe they attended an institution that misled them or engaged in other misconduct or if they can demonstrate that the institution violated state law related to their loan or the educational services provided.
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