Dept. of Education to cancel $150 million in student loan debt | WHAT REALLY HAPPENED


Dept. of Education to cancel $150 million in student loan debt

The U.S. Department of Education announced Thursday it would automatically cancel $150 million in student loans connected to for-profit colleges that closed in recent years.

The move was made under an Obama-era policy that a federal judge in October essentially forced U.S. Secretary of Education Betsy DeVos to implement. The story was first reported by Politico.

The discharge of loans applies automatically to about 15,000 students who attended now-defunct colleges that closed between Nov. 1, 2013, and Dec. 4, 2018, according to the department's announcement.

Webmaster's Commentary: 

This was absolutely the right thing to do.

But what about other colleges and universities which offer degrees which may never find a student employable?!?

Students, please put an intelligent amount of skull-sweat into determining which school you will go to, and what the placement level statistics in any given field might be.

Any school recruiter worth their salt, will attempt to get you to enroll at the school they are pitching.

But you have to do the due dilligence, in terms of what the numbers really look like, in terms job placement. Find a way to talk to other students who have graduated with the same degree you want to attain, and ask them how well their job search went, after they graduated.

It's your life; but you have to put some good, solid research into where you want to go post high school, and how you are going to get there, which, preferably, would not involve taking on huge student loans which will saddle you with a debt burden for many years to come.

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