Betsy DeVos in the U.S. House of Representatives on July 24. Photo: Tom Williams/CQ Roll Call

Education Secretary Betsy DeVos finalized her effort on Friday to make canceling student debt harder for federal loan borrowers if colleges defraud those students, Politico reports.

The big picture: The fight over DeVos's proposal to qualify the Obama-era rule has stretched on for almost the full length of Trump's presidency. 19 attorneys general sued DeVos over the plan in 2017. Her proposal is estimated to save taxpayers $11 billion over the next 10 years.

  • DeVos has emphasized that preventing fraud in higher education is a key reason for the rule.
  • In the 2017 lawsuit, Massachusetts Attorney General Maura Healey argued that DeVos's rule "sided with for-profit school executives against students."

The bottom line: Loan forgiveness will be cut by almost $500 million annually under the new standard, the Department of Education estimates.

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Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Americans feel Trump's sickness makes him harder to trustFlorida breaks record for in-person early voting — McConnell urges White House not to strike stimulus deal before election — Republican senators defend Fauci as Trump escalates attacks.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots — University of Michigan students ordered to shelter-in-place.
  4. World: Ireland moving back into lockdown — Argentina becomes 5th country to report 1 million infections.

Report: Goldman to settle DOJ probe into Malaysia's 1MDB for over $2B

Illustration: Lazaro Gamio/Axios

Goldman Sachs has agreed with the Department of Justice to pay over $2 billion for the bank's role in Malaysia's multi-billion dollar scandal at state fund 1MDB, Bloomberg first reported.

Why it matters: The settlement, expected to be announced within days, would allow Goldman Sachs to avoid a criminal conviction in the U.S. over the bribery and money laundering scandal that saw three of its former bankers banned for life from the banking industry by the Federal Reserve Board.

Trump threatens to post "60 Minutes" interview early after reportedly walking out

Trump speaks to reporters aboard Air Force One, Oct. 19. Photo: Mandel Ngan/AFP via Getty Images

President Trump tweeted on Tuesday that he was considering posting his interview with CBS' "60 Minutes" prior to airtime in order to show "what a FAKE and BIASED interview" it was, following reports that he abruptly ended the interview after 45 minutes of taping.

Why it matters: Trump has escalated his war on the media in the final stretch of his re-election campaign, calling a Reuters reporter a "criminal" this week for not reporting on corruption allegations about Hunter Biden and disparaging CNN as "dumb b*stards" for the network's ongoing coronavirus coverage.