Biden administration revokes Trump-era rule on student loan oversight, paves way for probes

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Biden admin. revokes Trump-era rule that consumer advocates say allowed the Education Dept. to subvert state law enforcement probes of student loan servicers — one of a series of recent overhauls that could pave the way for more robust investigations.

, who was accused of putting the for-profit college industry and student loan servicers ahead of helping student borrowers.

The Student Loan Servicing Alliance, a trade group, which had defended the Trump administration's interpretation — saying it was"not just good law, it is good policy" — did not immediately respond to a request for comment Tuesday. Cardona said last month that"effective collaboration among the states and federal government is the best way to ensure that student loan borrowers get the best possible service."

 

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