washington u.s. education secretary betsy devos rework student lend since appointment february raise concern among democrats undo former president barack obama overhaul college financial aid monday 21 state attorneys general democrats write republican devos decry decision end education department work reform loan service step intend ensure borrowers understand outstanding debt repayment options look ways ease burden student debt enable student loan service industry manipulate exploit students new york attorney general eric schneiderman say statement democrat obama much 1.3 trillion business student lend move bank company federal government four company still handle service loan last year department begin work restrictions well incentives ensure servicers follow law march consumer federation america report 137 billion student loan default april 11 memo announce stop reform efforts devos appoint president donald trump write process riddle move deadlines change requirements lack consistent objectives find situation must promptly address shortcomings also issue may impede ability ensure borrowers experience deficiencies service devos write accord version publish department website department immediately respond request comment letter attorneys general head democratic national committee former labor secretary tom perez say devos decision intend boost profit big corporations counteract obama reform republicans say u.s. government get business make student loan january consumer financial protection bureau sue large loan servicer navient corp allegations cheat borrowers deceive repayment options right illinois washington also sue company spin sallie mae 2014. navient say bureau create obama protect people fraud sue would settle cfpb investigation right trump take office u.s. department justice sanction navient 2014 give military members wrong information loan democratic state attorneys general decry student loan rework republicans