WASHINGTON, DC – The Biden-Harris Administration today announced final regulations that will enhance oversight and accountability for higher education institutions and strengthen protections for student borrowers. The new rules will go into effect July 1, 2024.
In response, Jaylon Herbin, director of federal campaigns at the Center for Responsible Lending (CRL) made the following statement:
We commend the Biden-Harris Administration for protecting students and taxpayers by enhancing transparency and accountability in higher education. These new rules not only address the disruptions caused by sudden college closures, but will also make college more affordable and safeguard students’ academic achievements. This much-needed development is a crucial step toward creating a more equitable education landscape that addresses wealth and racial disparities.
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Press Contact: Vincenza Previte vincenza.previte@responsiblelending.org