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Coalition Continues to Fight Against New Regulation for Backdoor Student Loan Bailout
09/30/2016 at 07:48 am - Michi Iljazi

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Congress has recessed until after the November elections, but unfortunately federal agencies and the Obama Administration are still making sure to promulgate new rules and regulations aimed at to increasing the authority and scope of the executive branch. Taxpayers continue to pay the price from damaging regulations coming from agencies like the Environmental Protection Agency (EPA), the Federal Communications Commission (FCC), and the Treasury Department. Recently, the Taxpayers Protection Alliance (TPA) joined a coalition effort hoping to stop the “Defense to Repayment Regulations” rule coming from United States Department of Education (US ED). This new rule proclaims to “protect students,” but all it will do is cost taxpayers, as it is a bailout for student loans. The rule could cost anywhere from $2 billion to $43 billion according to the US ED’s own analysis and that is why TPA continues to oppose the rule and call for action to stop it. This week the coalition, led by American Commitment, sent a new coalition letter to Howard Shelanski, the Administrator at the Office of Information and Regulatory Affairs (OIRA) urging the agency to require a new analysis of the rule and its cost before moving forward.

Click 'read more' below to see the full letter


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