The Department of Education is canceling $500 million in student loan debt for 18,000 former ITT Tech students defrauded by the now defunct for-profit college
Washington , another step the Biden administration is taking to address a backlog of more than 100,000 forgiveness claims left over from the Trump administration.
ITT Tech, which shut down in 2017 after the government pulled its federal funding, misled students about how much they could expect to earn after graduating and about the ability to transfer credits, the Department of Education said Wednesday.
"I've been waiting for years so I won't believe it's true until I get an official letter," she told CNN.DeVos made it clear that she thought the rule was"bad policy" that puts taxpayers on the hook for the cost of the debt relief without the right safeguards in place and made changes to limit its reach. The revisions made by DeVos put the rule in limbo throughout the entire Trump administration.
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