Administration works to protect prospective students from college debt.
The U.S. Department of Education recently announced final regulations to enhance oversight and accountability for colleges and universities to protect student borrowers.
The new rules will allow the department “to protect students and taxpayers from the negative effects of sudden college closures, will restrict colleges from withholding course credits paid for with Federal money from students’ transcripts, and require colleges to clearly communicate to students how much financial aid they will receive.“
“Too many students have been abandoned by shady colleges that close their doors and leave borrowers with unaffordable debt and little hope of completing their educational journeys and embarking on rewarding careers,” said Education Secretary Miguel Cardona. “With these final rules, the Biden-Harris Administration is fixing a broken system, which failed to protect students and families, and addresses abuses in higher education that have cost taxpayers billions of dollars in recent years. We are raising the bar for accountability and making sure that when students invest in higher education, they get a solid return on that investment and a greater shot at the American dream.”
As the Lord Leads, Pray with Us…
- For Secretary Cardona as he implements regulations intended to protect student borrowers.
- For U.S. education officials as they address the costs of higher education and the needs of the American workplace.
- For prudence for U.S. educators as they market colleges and universities to students and families.
Sources: Department of Education
