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Debt cancellations will total about $ 150 million.
The rule, known as the Borrower's Defense until Repayment, was intended to help students deceived by for-profit colleges to obtain debt relief from their studies.
Students who have their debt immediately canceled are in closed schools while enrolling. About half of the debt was due to borrowers who attended one of the former for-profit Corinthian colleges that were removed.
. At the time, about 16,000 students were enrolled on the remaining 28 campuses
but the rule was also intended to make it easier for students to seek relief if they believe their schools have induced them to do so. error, for example by increasing placement rates, – even if they were not enrolled at the closing of schools.
Many of these students still have requests for debt relief pending.
"It's a good start, but it's not enough," said Sen. Democrat Patty Murray, a senior member of the Senate Education Committee, in a statement.
"I urge Secretary DeVos to give up her attempts to rewrite the borrowers defense rule in order to let for-profit colleges simply fend for themselves to fully enforce the current rule and come to the aid of more than 100,000 borrowers who have been scammed from their education and savings, "she said.
The Ministry of Education will launch an email Friday with the borrowers to inform them that their loan debts will be canceled in the next 30 to 90 days.
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