Providing for Congressional Disapproval of Rule Submitted By Department of Education Relating to ``Borrower Defense Institutional Accountability''--veto Message From the President of the United States

Floor Speech

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Mr. TAKANO. Mr. Speaker, I thank the chairman for yielding.

Mr. Speaker, so when the Trump administration and Secretary DeVos approved its new borrower defense to repayment rule late last year, it was clear that they had chosen to pander to the for-profit college industry and cheat thousands of borrowers out of the relief that they deserve.

Predatory for-profit institutions consistently put their profits over students' education. They make false promises about job prospects, drain Federal resources, and leave millions of students with useless degrees and high student loan debt.

Mr. Speaker, yes, veterans are among that group of people, and that is why major veteran service organizations have come out in favor of this veto override in support of the original legislation. Veterans, women, and minorities are aggressively recruited by these institutions who only see them as a benefit to their bottom line:

ITT Technical Institute, Corinthian Colleges, Dream Center Colleges are just some of the predatory for-profits whose lofty promises turned student dreams into a nightmare. The student borrowers who were defrauded by these schools are desperately seeking relief, but Secretary DeVos is making that task nearly impossible. And that is why this year, both Chambers of Congress passed a bipartisan Congressional Review Act resolution that rejected Secretary DeVos' harmful rule.

Students, consumer advocates, and student veteran groups spoke out in favor of this CRA and urged President Trump to sign it into law. But the President refused to heed their call, choosing instead to uphold Secretary DeVos' watered-down rule to put additional burdens on borrowers.

We must override the President's veto. Congress must again stand with student loan borrowers and stop the Trump administration's attack on America's students and his attempts to rig the rule in favor of Secretary DeVos' cronies. More than 200,000 student borrowers are still waiting for relief.

Ms. FOXX of North Carolina.

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