Today, Republican Leader of the Education and Labor Committee Virginia Foxx (R-NC) gave the following statement in response to the Education Department’s announcement that it will default to full forgiveness for defrauded student loan borrowers, abandoning the Trump administration's partial-relief formula:
“Devos’ formula balanced fairness for student borrowers with fairness for taxpayers. Certainly, students should not bear the full financial burden of loans obtained under false or fraudulent circumstances. But instead of demonstrating real leadership and going through the rulemaking process to address the backlog of complaints, Secretary Cardona is opening the system to potential fraud and abuse at the expense of taxpayers."
