‘Flat-out corruption’: DeVos accused of scheming to stop next president from canceling student loan debt
“Normally the rich are moderately more subtle about rigging the system in their favor. They’re scared.”
Billionaire Education Secretary Betsy DeVos this week proposed handing over the federal government’s $1.5 trillion student loan portfolio to a “stand-alone government corporation,” a move observers condemned as a corrupt ploy to strip the next president of the ability to cancel student loan debt.
“This very much appears to be a Betsy DeVos scheme to block the next president from unilaterally forgiving federal student debt, which she is well aware a president could do without Congress,” The Intercept‘s Ryan Grim wrote in a series of tweets late Wednesday. “The DeVos family is heavily invested in the student loan industry and this is just flat-out corruption.”
DeVos’ plan, first introduced on Tuesday, would spin off the Education Department’s Federal Student Aid office into a new and supposedly independent federal agency.
“One has to wonder: why isn’t Federal Student Aid a stand-alone government corporation, run by a professional, expert, and apolitical Board of Governors?” DeVos tweeted Tuesday. “A separate Federal Student Aid would be better positioned to deliver world-class service to students and their families as they finance higher education.”
Sen. Bernie Sanders (I-Vt.), a 2020 Democratic presidential candidate who has proposed wiping out all student loan debt, dismissed the CONTINUE READING: ‘Flat-out corruption’: DeVos accused of scheming to stop next president from canceling student loan debt – Raw Story
