Biden administration revokes DeVos-era guidance, clearing the way for tighter oversight of student loan companies

Contributing sentiments towards policy:

53% : Though both the guidance announced this week and the DeVos-era memo are focused on the wonky topic of preemption -- essentially the idea that federal law supersedes state law in cases where they're in conflict -- the government's and courts' interpretation of how preemption applies to student loan regulations has implications for student loan borrowers paying their bills.
51% : Buchanan described the guidance as a "distraction" from the Department taking steps to meaningfully improve the student loan program, including by tackling some of the nitty gritty issues that state laws are addressing, like how student loan payments are allocated.
48% : The Biden administration's memo comes as consumer advocates are watching the Department of Education closely to see how officials will approach oversight of the student loan and higher education industries.

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