Carolyn Kaster / AP

19 attorneys general sued Education Secretary Betsy DeVos Thursday, challenging her decision to scratch rules that would have erased students' federal loan debt if their colleges defrauded them, per AP. DeVos argued the rules created "a muddled process that's unfair to students and schools" and she wants a "regulatory reset."

The rules suspended were to take effect July 1 and would have also barred for-profit colleges from forcing students to remedy issues outside of court through arbitration.

Massachusetts Attorney General Maura Healey is leading the suit, and she claims DeVos "sided with for-profit school executives against students."

Go deeper

1 hour ago - Sports

Pac-12 football players threaten coronavirus opt-out

Illustration: Eniola Odetunde/Axios

A group of Pac-12 football players have threatened to opt out of the season unless the conference addresses systemic inequities and concerns related to the coronavirus pandemic.

Why it matters: College football players have never had more leverage than they do right now, as the sport tries to stage a season amid the pandemic. And their willingness to use it shows we've entered a new age in college sports.

Betting on inflation is paying off big for investors

Illustration: Aïda Amer/Axios

The specter of rising inflation is helping power assets like gold, silver and Treasury Inflation-Protected Securities (TIPS) to strong returns with record demand this year.

The big picture: Investors continue to pack in even as inflation metrics like the consumer price index (CPI) and personal consumption expenditure (PCE) index have remained anchored.

Scoop: Top CEOs urge Congress to help small businesses

Illustration: Eniola Odetunde/Axios

With a new coronavirus relief measure stalled in Congress, CEOs of some of the world's biggest companies have banded together to send a message to Washington: Get money to small businesses now!

Why it matters: "By Labor Day, we foresee a wave of permanent closures if the right steps are not taken soon," warns the letter, organized by Howard Schultz and signed by more than 100 CEOs.