This request was short-lived. The Department of Education revoked the Obama guidelines on Thursday and instructed guarantee agencies (companies that issue government-backed student loans) to collect on defaulted debt.

As MarketWatch points out, a relatively small share of borrowers will be impacted by the new regulations. Starting in 2010, all new federal student loans were issued by the Department of Education, which doesn’t charge collection fees to borrowers who quickly agree to make good on their defaults. As a result, students who have taken out federal loans in the last few years need not worry about an increase in fees.

But those who received loans from the FFELP—which discontinued new loans in 2010—have cause for concern. The Washington Post reports that nearly half of America’s outstanding debt in default comes from this bank-based federal lending program, while Tuesday’s CFA analysis finds that 16 million Americans are liable for bank-based federal student loans.

Rohit Chopra, a senior fellow at CFA, told The Post the new policy “will do nothing to stop the tidal wave of defaults that is sweeping across the nation.” In fact, he fears that the roll back of the Obama memo “just adds insult to injury.”

One of the main criticisms from the Trump administration, as stated Thursday in a “dear colleague” letter, was that the Obama memo lacked public input. Only time will tell what the public has to say about the new administration guidelines.

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