The head of the Department of Education (DOE) Linda McMahon has defended the Trump administration’s move to resume student loan debt collections, something she says colleges and universities profited from during the Biden administration when it implemented loan forgiveness measures.
According to the New York Post, the DOE announced Monday that federal student repayments would begin again from May 5, which have since gone into default for more 5.3 million borrowers.
In a Wall Street Journal op-ed, McMahon blamed the Biden administration and universities for pocketing loan dollars and making “empty promises” to students.
“Colleges and universities call themselves nonprofits, but for years they have profited massively off the federal subsidy of loans, hiking tuition and piling up multibillion-dollar endowments while students graduate six figures in the red,” McMahon wrote.
“A widely cited 2015 study…
