Providing for Congressional Disapproval of Rule Submitted By Department of Education Relating to ``Borrower Defense Institutional Accountability''

Floor Speech

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Ms. BONAMICI. Mr. Speaker, I rise today in strong support of H.J. Res. 76, which will reverse the Trump administration's harmful new borrower defense rule.

The initial borrower defense rule was designed to provide defrauded students with the debt relief they are entitled to receive under the Higher Education Act. Unfortunately, Secretary DeVos rewrote the rule to make it nearly impossible for future students who are victimized by deceptive institutions to get the relief they need and deserve.

According to the Department's own estimate, only about 3 percent of the loan debt held by defrauded borrowers would be dismissed under the new rule. That is not justice for victims of fraud.

We must also continue our work to update the Higher Education Act to prevent unscrupulous institutions from harming students and taxpayers in the first place. The College Affordability Act will hold institutions accountable and make college more affordable and equitable for everyone.

I urge my colleagues to support H.J. Res. 76 today and the College Affordability Act when it comes to the floor.

Ms. FOXX of North Carolina.

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