The agreement filed Wednesday in San Francisco federal court would automatically cancel federal student debt for students who were enrolled at one of more than 150 colleges and later applied for debt cancellation because of alleged misconduct by the schools.
The deal has yet to be approved by a federal judge. A hearing on the proposal is scheduled for July 28. When the department under DeVos started deciding claims months later, it issued tens of thousands of denials, often without any explanation. At the time, the judge overseeing the caseof rejections, saying her approach"hangs borrowers out to dry."
An additional 68,000 plaintiffs who did not attend eligible schools will get a “streamlined review” of their claims. The oldest claims will get reviewed first, while the most recent ones will get a decision within 2½ years. "This momentous proposed settlement will deliver answers and certainty to borrowers who have fought long and hard for a fair resolution of their borrower defense claims after being cheated by their schools and ignored or even rejected by their government,” said Eileen Connor, director of the project.
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