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Trump Admin To Stop Universities From Charging ‘Unlimited Tuition’ At Taxpayer Expense

The final rules also streamline loan repayment.

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The U.S. Department of Education announced Thursday that it has finalized rules to to help stop colleges and universities from charging exorbitant amounts in tuition, paid for by taxpayers.

“For 20 years, colleges and universities have been able to charge virtually unlimited tuition for their programs, despite the fact that many graduates see very little or no return on investment, the results of this decades long policy on American graduates are staggering,” Nicholas Kent, Under Secretary of Education, said on a press call Thursday. “American families live within their means, and it’s time for colleges and universities to do the same.”

It has been a decades-long reality that colleges and universities have increased their tuition costs knowing Department of Education loans — funded by the American taxpayer, regardless of their education status — will foot the bill. Meanwhile, students are stuck for years with mountains of debt and a degree that does not yield jobs that pay a sufficient amount to justify the debt.

The current student loan portfolio under the Department of Education is $1.7 trillion, and it is estimated that fewer than 40 percent of borrowers are in repayment, while nearly 25........

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