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Trump promises to "fixe" student loan debt



"Student loan debt. I have to work to rectify it because it is outrageous what happens. You don't get the fair start," said President Donald Trump on Thursday during an executive order signing event in the East Room of the White House.

"We have to work a lot, very hard to get it fixed. We have to start with 43 million people in the United States are currently working on paying off student loans and we're talking very soon," said trump.

At one point, he shot, "I've always been very good at loans. I love loans. I love other people's money."

The Order instructs the Institute of Education to publish more information on candidates & # 39; income and debt levels designed to make it easier for students to choose which higher education institutions are best for them based on the value of the program. This data is already available on the Government College Scorecard website, but the order instructs the department to add information about specific degree and certificate programs to school data.

The order also directs the department to come up with political proposals that will hold colleges responsible for student performance.

It comes at the height of a Monday Monday announcement by the White House, which urged Congress to include a cap on student loan borrowing as lawmakers consider updating the Higher Education Act. The proposal proposes to limit how much parents of teachers and graduate students can borrow from the federal government. Currently, they can borrow as much as they need ̵
1; with the price set by the schools.

Some studies suggest that unlimited borrowing may encourage colleges to increase the price of tuition. But then Patty Murray, a Washington State Democrat who is a member of the Senate of the Health, Education, Labor and Pensions Committee, criticized the loan proposal. In a statement, she said it would "harm students" and ignore the fact that most students cannot afford college without debt.

The Trump administration has also proposed simplifying student loan repayments and extending the Pell Grant program to low-income students enrolled in short-term career education. These priorities were outlined in the Betsy DeVos Education Minister's budget for the 2020 financial year released last week.

For the past two years, the administration has been criticized by Democrats as leading college students over students. During DeVos, the Department of Education attempted to roll back an Obama era rule designed to help students cheated by for-profit colleges getting relief on their education debt.

After DeVos was sued by lawyers generally from 18 states, and the District of Columbia ordered a court to implement the rule and forgive $ 150 million in student loans.

CNN's Maegan Vazquez contributed to this story.


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