Department of Education Lifts Limits that Protect Student Loan Borrowers

The U.S. Department of Education rescinded limits restricting collection fees that can be issued to student loan borrowers who default on their loans Friday, according to a press release from Rep. Suzanne Bonamici’s (D-OR) office. The decision follows a joint letter issued by Massachusetts Sen. Elizabeth Warren and Bonamici this on Tuesday, asking Secretary of Education Betsy DeVos to maintain “commonsense limits” on the fees charged to defaulted student loan borrowers, according to a press release issued by Warren’s office.