Sep 13, 2017

Education Dept. to rewrite student loan relief rules

Education Secretary Betsy DeVos speaks on Title IX regulations at George Mason University. Photo: Jacquelyn Martin / AP

The Trump administration is rewriting Obama-era rules of loan forgiveness for students who claim they've been swindled by for-profit universities, per AP. In the meantime, the Education Department is delaying action on 65,000 claims.

  • The Obama-era rules "would have forbidden schools from forcing students to sign agreements that waived their right to sue" and "schools, not taxpayers, could have been held responsible for the costs," AP reports.
  • Some forgiveness claims were supposed to be approved in October, but the Education Department said it will need up to six months to review them.
  • Worth noting: Trump University, a for-profit institution started by President Trump, paid $25 million to settle fraud claims earlier this year.

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Trump indulges Wall Street with Milken pardon

Photo Illustration: Sarah Grillo/Axios. Photo: Chris Graythen/Getty Images

Donald Trump loves Wall Street shenanigans. Companies owned by him have declared bankruptcy six different times, and he was once sued alongside Mike Milken for participating in a scheme to artificially inflate junk-bond prices.

Driving the news: Trump pardoned Milken this week, with an official statement positively gushing over Milken's role in developing the wilder side of fixed-income capital markets.

Situational awareness

Photo: Win McNamee/Getty Images

Catch up on today's biggest news:

  1. Roger Stone sentenced to 40 months in prison
  2. Top NSC official reassigned to Energy Department amid "Anonymous" fallout
  3. Morgan Stanley to buy E*Trade in $13 billion deal
  4. Coronavirus slams companies' 2020 sales projections
  5. Black activist group gives its first presidential endorsement to Elizabeth Warren

Coronavirus kills 2 Diamond Princess passengers and South Korea sees first death

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. U.S. numbers include Americans extracted from Princess Cruise ship.

Two elderly Diamond Princess passengers have been killed by the novel coronavirus — the first deaths confirmed among the more than 600 infected aboard the cruise ship. South Korea also announced its first death Thursday.

The big picture: COVID-19 has now killed more than 2,100 people and infected over 75,000 others, mostly in mainland China, where the National Health Commission announced 114 new deaths since Wednesday.

Go deeperArrowUpdated 2 hours ago - Health