DeVos issues new loan forgiveness rule for swindled students

WASHINGTON (AP) - Education Secretary Betsy DeVos has issued a new rule on loan forgiveness for students defrauded by their colleges, a rewrite of Obama-era regulations that advocates say will make it tougher for students to get relief.

DeVos says schools must be held accountable but that the Obama rule wasn't working. She says the new rule will "treat students and taxpayers fairly."

But James Kvaal, president of the Institute for College Access and Success, says it will make it almost impossible for students to get relief. He says the rules forces students to submit evidence they don't have and can't get, "and it prevents students who were harmed as a group from getting relief as a group."

The new rule is the latest rollback of Obama-era regulations targeting for-profit colleges.