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College debt relief for students

Posted at 9:21 AM, Dec 14, 2018

LANSING, Mich. (WSYM) — Thousands of college students who were not able to finish their programs because their schools closed, are getting some good news.

Their student debt is about to be wiped clean by the Department of Education.

This comes after Education Secretary Betsy DeVos was sued over claims she didn't cancel student debt owed by people whose for-profit colleges were shut down.

The announcement also comes about two months after a federal judge ordered immediate implementation of an Obama-era rule designed to help students cheated by for-profit colleges.

DeVos found to block the rule for more than year.

The Education Department says it will cancel $150 million in debt.

It will start letting borrowers know Friday their debt from loans will be canceled within the next 30 to 90 days.