Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, the 2016 borrower defense regulation does a great disservice to our Nation's students and institutions of post-secondary education because the previous administration did not design the borrower defense rule to improve post-secondary education. Let me explain. The Higher Education Act establishes that a borrower can receive loan forgiveness if he or she attends an institution that engages in an act or omission which led the individual to borrow a loan. An example of an act or omission could be an institution lying about its graduation rates in order to lure more students to enroll in that program. That seems fair. It is important to note that in the 2019 rule, students who suffer financial harm from fraudulent institutions are eligible and will receive loan relief. But where the Obama administration went haywire was when they blurred the distinction between what acts or omissions constitute fraud versus an inadvertent mistake. Many institutions, including HBCUs and public flagship universities, were concerned that a single marketing error could set off a domino effect of borrowers seeking and receiving forgiveness. For example, in a New York Times article published in 2018, Henry N. Tisdale, the President of the small campus of Claflin University in Orangeburg, South Carolina, expressed concern over the Obama-era regulation. Mr.…”