Because...just because. No legitimate reasons provided by Devos or her team.
https://www.bloomberg.com/news/articles/2017-04-11/devos-undoes-obama-student-loan-protections
Edit: Here's a link to the current regulations being undone: https://www2.ed.gov/documents/press-releases/loan-servicing-policy-memo.pdf
I really don't think they need to say why anymore. We all know why. Obama did it.They are trying to erase the first Black president from existence.
Can we even be sure he was president at this point? Fake news.