WASHINGTON, D.C. — Congressman Adam Smith (D-WA) today issued the following statement upon voting for H. J. Res. 76, blocking the DeVos rule that denies debt relief to students defrauded by predatory colleges.
“Students defrauded by predatory, for-profit colleges are often left with devastating amounts of debt for useless degrees and none of the job opportunities they were promised. The 2016 borrower defense rule held these institutions accountable and created a streamlined process to help defrauded borrowers access the relief they desperately need.”
“Secretary DeVos’ new borrower defense rule created a complex process that makes it extremely difficult for defrauded borrowers to seek relief, all while weakening taxpayer protections and letting failed for-profit colleges off the hook.
“Secretary DeVos should be focused on supporting students and taxpayers, not rewarding failed fraudulent institutions. I am proud to support this resolution to restore the 2016 rule, and provide adequate protection and relief for current and future student borrowers.”