Profile picture
, 8 tweets, 3 min read Read on Twitter
A letter by a top adviser to Education Sec. Betsy DeVos reveals how the department has prioritized student loan servicers over student borrowers, consumer advocates say.

Reporting by @erikjhortiz. nbcnews.to/2kJFvvP (1/8)
@erikjhortiz The advocates say the Education Dept. is declining to turn over information to law enforcement in multiple states investigating student loan servicers, some accused of illegally exploiting borrowers. (2/8)
"After nearly a year of hiding the truth, Sec. DeVos' Dept. of Education finally admitted that it is interfering with law enforcement in order to protect predatory student loan servicers ... instead of making sure student loan borrowers get treated fairly," Sen. Murray says (3/8)
The nation's student debt crisis has only grown as 45M student borrowers have seen their collective debt balloon to roughly $1.5T. (4/8)
More than 20 Democratic state attorneys general echoed concern in letter to Sec. DeVos in April, writing that the dept.'s "recent rejection of requests" is a "sharp departure from its longstanding practice," and that such info is pivotal to litigate against fraud. (5/8)
Liz Hill, an Education Dept. spokesperson, said in a previous statement that a "state-by-state approach to regulating federal assets causes confusion for borrowers and makes administration of the loan program more complicated and costly." (6/8)
However, Whitney Barkley-Denney, senior policy counsel at the Center for Responsible Lending, added that in the case of loan servicing, "the states have long been recognized as having the power to police corporations and industry on behalf of consumers." (7/8)
The tussle between the federal government and states comes as part of a wider shift during the Trump admin. to move away from clamping down on student loan servicers and for-profit colleges accused of preying on students. (8/8) #NBCNewsThreads
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to NBC News
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!