Student loans: Biden administration rolls back Trump-era guidance in win for borrowers

Contributing sentiments towards policy:

65% : "Helping more students afford college is a top priority, and effective collaboration among the states and federal government is the best way to ensure that student loan borrowers get the best possible service," Cardona said in a statement.
59% : "We welcome public input on this interpretation and look forward to enhancing consumer protections for student loan borrowers by clarifying the relationship between federal and state law on this issue."
56% : Since 2014, 12 states and D.C. have passed a Student Loan Borrower Bill of Rights to protect student loan borrowers.
52% : The new notice specifically states that "while federal law does preempt state regulation in certain narrow areas, states can regulate student loan servicing in many other ways without being preempted by the federal Higher Education Act (HEA)."
52% : "The DFPI is committed to protecting student loan borrowers from predatory debt-relief scams," Acting Commissioner Christopher S. Shultz stated.
48% : With the May move, if a state attorney general or a regulatory body wishes to examine records such as customer complaints or company handbooks to see if a student loan servicing company or a debt collector is violating a law or regulation, they would be able to access them.
45% : The U.S. Department of Education (ED) scrapped another Trump-era policy on student loans, enabling state governments to resume oversight of loan servicers on behalf of borrowers within their borders.

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