Canceling student debt for millions of borrowers 'cheated by for-profit colleges' isn't enough, Biden's Education Department says — it's time for the top executives to pay up

• The Education Department released new guidance to hold executives of for-profit colleges financially liable for unpaid costs to the government.
• When a school shuts down or is accused of fraud, taxpayers or students often pay the costs.
• The new guidance would determine the riskiest schools by considering existing criminal or civil lawsuits and settlements, among other things.

President Joe Biden's Education Department doesn't want to let executives of for-profit colleges that cause student debt to surge off the hook.