California braces for battle with Trump administration over student loans

Source: David Lazarus, L.A.Times (Paid Registration)

A confidential draft memo drawn up by the U.S. Department of Education lays out the case for why states, including California, should abandon their own laws for student-loan servicers and let the feds allow these for-profit companies to skate by with considerably less oversight.  I got my hands on a copy of the memo. It doesn't mince words in telling California and other states to back off.

Under President Trump's appointee as Education secretary, Betsy DeVos, the priority seems to be safeguarding the loan-servicing industry, not consumers.

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