Betsy DeVos was confirmed this week by the United States Senate to hold the Secretary of Education position in President Donald Trump’s cabinet. In this position, DeVos will have a say in shaping policy around public education and dealing with the current student loan debt bubble.
Betsy DeVos on Student Loans
Few details are known about where DeVos stands on the issue of student loan debt, but here are some of the things we do know. We know that Mrs. DeVos believes in education reform including returning control to local school boards. As far as higher education is concerned, Mrs. DeVos has stated that college costs are out of control and believes that policy should be implemented which creates more competition among schools.
We also know that on the campaign trail, Donald Trump said the federal government should get out of the student loan business and stop making money off the backs of students. It is not know how much or how little Mrs. DeVos shares this view.
Despite now being in charge of the nation’s $1 Trillion student loan bank, Mrs. DeVos has said she does not have specific experience in this area or pertinent financial experience in an equivalent fashion. However, Mrs. DeVos has stated she does have experience in the area of PELL grants and other education grants having worked firsthand in the field of education reform for decades.
On Debt Forgiveness
Mrs. DeVos stated in written answers that providing any type of blanket student loan debt relief is antithetical to her beliefs in how to properly reform high education.
On Cost of College
Mrs. DeVos believes that college costs are too high and also believes that changes are necessary to bring costs down. Some of her proposals include steering students away from traditional brick and mortar schools, which typically cost more, and into online schools and community colleges.