President Vetoes Bipartisan Resolution to Restore Strong Borrower Defense Rule

“I’m crestfallen by President Trump’s decision to veto bipartisan legislation to protect students against illegal actions of their colleges.

“The unfortunate reality is that some colleges defraud and cheat their students, sticking them with debts they have no way to repay. As a direct result of today’s action, hundreds of thousands of students cheated by colleges will have no way to get a fresh start. The message to unscrupulous colleges is that there will be little or no consequences for illegal wrongdoing.

“On July 1, the Trump Administration will implement its plan to repeal the strong borrower defense rule and replace it with a watered-down version. Students cheated by their colleges will be required to repay 97 percent of the resulting debts, based upon Department of Education estimates. The bipartisan House Joint Resolution 76 would have blocked the Trump action and restored strong borrower defense protections to students.

“However, the fight is not over. In the coming days, students will turn to Congress to override this veto and protect them from cheating colleges.”

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