"Employees at any company the Trump administration deems as having "a substantial illegal purpose" will no longer qualify for Public Service Loan Forgiveness under a new set of regulations finalized Thursday by the Department of Education. The final rule is very similar to the first draft released in August-both of which have been heavily criticized. The policy change, in the works for months, stemmed from an executive order issued in March."
"Collectively, the commenters called on department officials to conduct an extensive review and study over the rule, none of which were completed. So now, Galle said, the department will face the consequences. "I know that firsthand," he explained. "A rule that I wrote for the Securities and Exchange Commission was sent back by the Fifth Circuit because there was one statistical study that the agency didn't do.""
The Department of Education finalized regulations that bar employees of employers the Trump administration deems to have "a substantial illegal purpose" from qualifying for Public Service Loan Forgiveness (PSLF). The final rule closely mirrors an August draft and traces to a March executive order. Illegal activities listed include aiding and abetting immigration or civil rights law violations, supporting terrorism, providing gender-affirming care, and trafficking children across states for emancipation. The education secretary will determine employer violations based on a preponderance of the evidence. The rule takes effect July 1 next year. Critics including Democrats, industry leaders, student borrower advocates, and law scholars call the policy vague and expect lawsuits.
#public-service-loan-forgiveness #department-of-education-regulation #executive-order #legal-challenges
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