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senate Bill S. Joint Res. 56

Should Congress Overturn the Trump Admin’s Changes to the Student Borrower Loan Forgiveness Rule?

Argument in favor

The Trump administration’s changes to the borrower defense rule will make it harder for student loan borrowers to obtain loan forgiveness when higher education institutions engage in fraudulent behavior. By blocking the regulatory changes proposed by the Education Dept. and Secretary DeVos, this bill would restore the protections of the Obama era borrower defense rule.

jimK's Opinion
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03/11/2020
Yes. Keep the program as it was. Allow people who were defrauded before the three year timeline the opportunity to recover from fraudulent practices. I do not trust most trumpublican changes because if you dig deep enough you will find someone making money or protecting wealth to the disadvantage of the general population.
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larubia's Opinion
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03/11/2020
Yes, you should overturn this corrupt administration’s changes to the borrower defense rule that make it harder for student loan borrowers to obtain loan forgiveness when higher education institutions, like tRump University, engage in fraudulent behavior. By blocking the regulatory changes proposed by the Education Dept., under Secretary DeVos (whose family business is student loan debts!) this bill would restore the protections of the Obama era borrower defense rule and protect borrowers.
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Julie's Opinion
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03/11/2020
Please undo an unjust money grab by banks to bilk honest, hard working Americans!
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Argument opposed

The Trump administration’s new regulation would revise the borrower defense rule in a way that gives student borrowers a reasonable chance to file for and obtain loan forgiveness when higher education institutions defraud them or engage in illegal conduct, and also protect taxpayers by ensuring loans are repaid when conditions merit. Congress shouldn’t overturn the new rule.

Bwana's Opinion
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03/11/2020
Thank you my conservative brothers and sisters. I believe the Countable platform to be profoundly biased in favor of liberal ideas and opinions. Worse yet - it is ineffective for fostering discussion. I am asking Countable to delete my account. Spend your energy - like any other resource - to get the best return on your investment. Countable is not it.
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Just.Dave's Opinion
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03/11/2020
Congress should sit on their hands and do nothing at all until we can vote all of the liberals out in November! We need some Tidy Bowl to blue flush the libs out of this congress. We can resume actual work next year with President Trump and a Republican majority in the Senate and House.
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Jim2423's Opinion
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03/11/2020
Student and parents sign on the line. Should have took household finance class in high school. I agree college degrees are needed but colleges forgot education and making “All Inclusive” resorts instead of education. Nope you sign on the line and agree with these expensive schools, you pay. Even some apprenticeships, you fail or drop out you pay back any expenses occurred by the company. No different. The only way to change from these elite schools is to apply at smaller schools. I have to agree with our present administration, you sign, you pay. No forgiveness.
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What is Senate Bill S. Joint Res. 56?

This resolution would repeal the Dept. of Education’s “Borrower Defense Institutional Accountability” rule that was finalized on September 23, 2019, and would take effect on July 1, 2020. The regulation modifies an Obama era rule that allowed student borrowers to seek forgiveness of student loans if a higher education institution misled them or engaged in other misconduct in violation of the law. The new rule would narrow the window for filing such claims to three years after graduation or withdrawal; extend the window for students to obtain relief if they can’t complete their programs before a school closes from 120 days to 180 days; allow students to allege a specific amount of financial harm that may be greater or lesser than their original claim; reduce precipitous closures by encouraging institutions to close only after completing well-planned teach-outs which give students a reasonable opportunity to finish their programs; maintain the current preponderance of evidence standard; and rescind the current prohibition on mandatory arbitration agreements.

Under the Congressional Review Act, Congress can overturn regulations issued within the last 60 legislative days with simple majority votes in both chambers. The resolution would need to be signed into law by the president to take effect.

Impact

Student borrowers seeking forgiveness of student loans from institutions that misled them or engaged in illegal conduct; relevant higher education institutions; and the Dept. of Education.

Cost of Senate Bill S. Joint Res. 56

A CBO cost estimate is unavailable. The Dept. of Education estimates that the regulation would produce a net savings of $11.1 billion to taxpayers in the 2020-2029 loan cohorts, including $9.8 billion for changes to the defense to repayment provisions and $1.3 billion for changes related to closed school discharges.

More Information

In-Depth: Sen. Dick Durbin (D-IL) introduced this bill to block the Trump administration’s planned reforms to the borrower defense rule, which allows student loan borrowers to obtain loan forgiveness if their higher education institution defrauded them or engaged in illegal conduct:

“With this new rule, Secretary DeVos is saying to borrowers, ‘We are not on your side. You are on your own.’ I’m asking my colleagues on both sides of the aisle: put the party labels outside… stand up for students across America who did their best to get a college education and were deceived in the process. Stand up for students who are loaded up with student debt, which could destroy their lives, and give them a fighting chance for a future by saying that Secretary DeVos’ borrower defense rule is unfair to veterans, unfair to students, and unfair to American families.”

In a press release announcing the final regulation revising the borrower defense rule, Secretary of Education Betsy DeVos offered the following statement:

“If a school defrauds students, it must be held accountable. There is no place for fraud in higher education, and it will not be tolerated by this Administration. From the recent college admissions scandal and intentional misrepresentations by schools to boost their U.S. News & World Report rankings to fraudulent marketing practices from proprietary institutions, too many institutions of higher learning are falling short. The new regulations are aimed at preventing this behavior because students deserve better, and all institutions must do better. I called for this regulatory reset more than two years ago, as it became clear the old rules just weren’t working. I want to thank all those who provided thoughtful feedback during the process. We made substantive changes to our proposed rule based on your input. We believe this final rule corrects the 2016 rule through common sense and carefully crafted reforms that hold colleges and universities accountable and treat students and taxpayers fairly.”

This legislation has the support of 42 cosponsors, all of whom caucus as Democrats. The House passed its version of this legislation on a mostly party-line vote of 231-180 in January 2020.


Media:

Summary by Eric Revell

(Photo Credit: iStock.com / timmytws)

AKA

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Education relating to "Borrower Defense Institutional Accountability".

Official Title

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Education relating to "Borrower Defense Institutional Accountability".

joint resolution Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Committee on Health, Education, Labor, and Pensions
    IntroducedSeptember 26th, 2019
    Yes. Keep the program as it was. Allow people who were defrauded before the three year timeline the opportunity to recover from fraudulent practices. I do not trust most trumpublican changes because if you dig deep enough you will find someone making money or protecting wealth to the disadvantage of the general population.
    Like (70)
    Follow
    Share
    Thank you my conservative brothers and sisters. I believe the Countable platform to be profoundly biased in favor of liberal ideas and opinions. Worse yet - it is ineffective for fostering discussion. I am asking Countable to delete my account. Spend your energy - like any other resource - to get the best return on your investment. Countable is not it.
    Like (5)
    Follow
    Share
    Yes, you should overturn this corrupt administration’s changes to the borrower defense rule that make it harder for student loan borrowers to obtain loan forgiveness when higher education institutions, like tRump University, engage in fraudulent behavior. By blocking the regulatory changes proposed by the Education Dept., under Secretary DeVos (whose family business is student loan debts!) this bill would restore the protections of the Obama era borrower defense rule and protect borrowers.
    Like (33)
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    Please undo an unjust money grab by banks to bilk honest, hard working Americans!
    Like (18)
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    If we can afford to bail out people like Trump in the banking, housing, and automotive industry, there is no reason we cannot afford to give those in public or non-profit service a break. That’s ludicrous.
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    How about we govern for the people rather than for Trump and his wealthy cronies? Overturn this law and come up with an actual solution to the student loan problem.
    Like (12)
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    Trump trying to avoid paying people that he ripped off. Stop this criminal!
    Like (11)
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    I am still dismayed that the usury laws repealed by a he Reagan Administration of the 1990’s has been readdressed during the past 4 Recessions. This bill is but a small bandaid for a much broader problem of impoverishing those investing their time and efforts to become active tax paying citizens only to find the economy has no job or career with benefits to allow them to pay for their own home and safety, let alone the interest on their student loans which accrued upon distribution!
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    Vote to overturn!
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    Please undo an unjust money grab by banks to bilk honest Americans!
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    Deception should never be rewarded. The entire issue of student loan forgiveness needs to be put on the table for acceptable solutions.
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    People shouldn’t suffer and have their lives put on hold or constantly with a vice grip because the feds wanna screw the american people over with ridiculous loan structures and percentages of interest and all in between. Yes you have to pay what you agreed to but not every university is 100% transparent and reliable when it comes to actual caring about one’s education and their well being during such time of their lives. You brag about the economy and job additions but people are suffering and losing homes and going broke because of student loans and such “‘new rule”. STOP CHANGING EVERY LITTLE THING JUST BECAUSE YOU PERSONALLY AND SUBJECTIVELY DONT LIKE IT. CERTAIN STATUES AND RULES AND LAWS WERE IMPLEMENTED FOR A REASON.
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    I know it won’t mean anything to you ( gardner) but you have no idea the pressure put on young people today who are drowning in a sea of student debt. Trumpelforeskin delights in other people’s pain and agony so he is delighted in being able to push this forward. I often wonder what or who removed this man’s soul. 💙💙💙💙 And while we are on the subject....... have Betsy Wetsy DeVos be held ACCOUNTABLE for defying a court order for the past year!!!!! And remove this incompetent bimbo from office.
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    Keep it just as it is. It’s helping people!! Trump screws with everything and messes everything up. Trump’s changes to the borrower defense rule is going to make it harder for student loan borrowers to obtain loan forgiveness when ’fraud’ universities like Trump University engage in fraudulent behavior. Blocking those regulatory changes from DeVos & the non-Education Dept., this bill would restore the protections for borrower. Problem I can sed is Trump will never sign it.
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    Yes, you should overturn this corrupt administration’s changes to the borrower defense rule that make it harder for student loan borrowers to obtain loan forgiveness when higher education institutions, like tRump University, engage in fraudulent behavior. By blocking the regulatory changes proposed by the Education Dept., under Secretary DeVos (whose family business is student loan debts!) this bill would restore the protections of the Obama era borrower defense rule and protect borrowers.
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    Leave the Government out of this and sue the school directly. If they perpetuated fraud on students, make them pay not we tax payers! It’s not the taxpayers responsibility that these liberal institutions defrauded ignorant, naïve people.
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    Congress should overturn everything Trump does he’s a complete idiot he has no concept of reality. He man is dumb ass game show host. I put any a Middle Schooler up against trump any day of the week in a spelling contest or geography test or a math test or any kind of test you want to give them. There’s no way Trump could beat an eighth grader he’s a moron who has proved his idiocy time and time again.
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    Right on John. Actually he’s a moron on steroids! That’s how bad he is. What right does the Dump have to change ANYTHING without us knowing and offering our opinion? Stop it!
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    Swampers Trumpf and DeVos are doing all they can to screw the little guy. Reinstate the program.
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    Congress should sit on their hands and do nothing at all until we can vote all of the liberals out in November! We need some Tidy Bowl to blue flush the libs out of this congress. We can resume actual work next year with President Trump and a Republican majority in the Senate and House.
    Like (4)
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