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Cardona Scraps DeVos Policy, Will Fully Cancel Debt of Many Students Defrauded by Colleges

About 72,000 people will have their federal loans fully canceled after Education Secretary Miguel Cardona on Thursday scrapped a plan to give partial debt relief to students defrauded by their colleges, ending a controversial policy instituted by his predecessor Betsy DeVos.

The move — Cardona’s first major higher education announcement since being confirmed — amounts to roughly $1 billion in debt relief. But it only addresses a subset of the nearly 200,000 people who have filed claims in the last six years under a statute known as “borrower defense to repayment.”

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