“On behalf of students across the county, TICAS is grateful to the members of the U.S. House of Representatives who voted on a bipartisan basis today to overturn the presidential veto of House Joint Resolution 76. Despite the bipartisan support for the resolution in every vote, the override vote fell short of the needed two-thirds support.
“Starting on July 1, students who were lied to by their school will find it nearly impossible to cancel their student loans. The rule creates roadblocks for defrauded students in the middle of an economic and a public health crisis, while imposing next to no consequences for the deceitful colleges. Based on the Department of Education’s own estimates, this rule will require students cheated by their colleges to repay 97 percent of the resulting debts. New paperwork requirements will leave students whose colleges close without the loan relief for which they are eligible.
“The bipartisan passage of H. J. Res 76 in the House and the Senate, as well as today’s bipartisan veto-override vote, reflect broad support for making sure that students and veteran borrowers who have been mistreated by their colleges get the debt relief Congress intended. Together, with nearly 100 organizations representing veterans, military, consumers, colleges, students, civil rights, and religious organizations, as well as state attorneys general, we will continue to fight for fair debt relief for defrauded borrowers and borrowers whose schools suddenly close.”
The Institute for College Access & Success is a trusted source of research, design, and advocacy for student-centered public policies that promote affordability, accountability, and equity in higher education. For more information see www.ticas.org or follow us on Twitter and Facebook.