Consumers Education Financial Government 

Student Debt

BRIEF
Class Action, for-profit schools, higher education, Settlement, student loans

SAN FRANCISCO — A federal court in California preliminarily approved a settlement in a class action brought by students who say they were defrauded by for-profit colleges and claim Education Secretary Betsy DeVos damaged their credit by halting decision-making on their borrower defense applications.  

Under the terms of the agreement, the Department of Education will decide claims and notify borrowers within 18 months and will provide a credit for any interest accrued in the meantime.

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