Wednesday, March 23, 2022
The U.S. Department of Education (Department) today announced updated steps to ensure that companies that own institutions are held responsible for funds owed to the federal government, including liabilities arising from closed school loan discharges and borrower defense to repayment claims. This will ensure that even if a school closes, the Department can recover funds from entities that had a direct or indirect ownership interest in the school instead of leaving the bill to taxpayers.
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