What is the "job of the future?" Find out in the next edition of Axios AM.

Stories

DeVos drops delay of Obama loan forgiveness rule after court ruling

Education Secretary Betsy DeVos sitting at a table.
Education Secretary Betsy DeVos. Photo: Chip Somodevilla/Getty Images.

The Education Department will stop the two-year attempt to delay an Obama administration regulation that helped students who were deceived by for-profit colleges have their loans forgiven, the Associated Press reports.

The backdrop: A federal court ruled last month that the delay on the regulations was unlawful and the rule should go into effect. Under Obama, the regulation forced for-profit colleges to prove they provide gainful employment to the students they enroll. Department spokeswoman Liz Hill told the AP the department is working on a new rule that has a better policy for students and taxpayers.