The Biden Administration Just Announced 4 New Regulation Changes to Help Protect Student Loan Borrowers
Ideally, colleges would be well-run. They would try hard to look out for students who take on debt to be able to go to school. But we don't live in an ideal world.
U.S. Secretary of Education Miguel Cardona acknowledged the problems in a press release issued on Tuesday. He stated: "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."
However, Cardona unveiled final rules that go into effect on July 1, 2024, that he said will make progress toward "fixing a broken system." The Biden administration just announced four new regulation changes to help protect student loan borrowers.
Source Fool.com
