1) The Secretary can discipline schools, lenders, guaranty agencies, and even discharge loans in response to certain situations.
2) If the Secretary does not think current regulations are adequate, he can issue emergency regulations to protect consumers.
Since Sec. Duncan admitted to needing to do better, here are some questions I have for him: what has he done in his year in office? How many schools, lenders, guaranty agencies has he disciplined in any way? Has he even explored the possibility of canceling borrowers’ debts for school or lender fraud?
If he has done any of this, it’s news to me. Trust me, if it’s been done, I’d be the first to let ya’ll know and praise Sec. Duncan!
What Arne Duncan could do about studen loan fraudPublished May 8, 2010 class warfare , consumer protection , culture of corruption , Uncategorized Leave a Comment
Tags: Arne Duncan