Education Secretary Betsy DeVos is abandoning her plans to overhaul how the federal government collects payments of student loan borrowers amid growing opposition from congressional Republicans and Democrats.

The Education Department announced Tuesday that it halted the process of hiring a single company to manage all federal student loan payments – and plans to come up with a “more innovative approach” after gathering feedback from the student loan industry and “various stakeholders.”

The announcement comes hours after a bipartisan group of senators unveiled legislation that would have blocked the administration’s plan.

Source: http://www.politico.com/story/2017/08/01/devos-student-loans-241221

Advertisements