Additionally, they noted that the Department has been rolling back important protections for millions of families repaying student loans. The termination of the two MoUs was the latest in its series of actions against student loan borrowers. It will harm taxpayers because they own or guarantee federal loans.
Furthermore, they that Department misunderstood the work of the CFPB to protect students and families. The CFPB often partners with the Department and AGs.
Moreover, the AGs said Department abandoned its responsibility to protect student loan borrowers on several occasions. They took actions to address the agency’s ill-considered actions over the past seven months.
AGs criticize Sec. DeVos
In separate statements, the AGs of California, New York, and Pennsylvania criticized Sec. DeVos.
California AG Xavier Becerra said DeVos consistently showed that she is not on the side of students. The termination of the MoUs with CFPB is the latest example.
“Secretary DeVos must stop cozying up with loan servicers and for-profit colleges. Educational institutions should exist to serve students. Enough is enough,” said Becerra.
