The loans of 18,000 former ITT Tech students were forgiven under a legal provision that allows students to have their debts erased if they prove they were defrauded by their schools
The Education Department has approved another $500 million in loan-forgiveness requests from former ITT Technical Institute students who say they were swindled by the now-defunct chain of schools, as the Biden administration expands its use of debt-relief programs.
The loans of 18,000 former students are being forgiven under a legal provision known as borrower defense to repayment, which allows students to have their debts erased if they prove they were defrauded by their schools. The group whose loans were addressed Wednesday said the for-profit ITT Tech provided deceptive information about their employment prospects and whether credits earned there would transfer to other schools.
The Biden administration has said it wants to address America’s crisis in student loans, which collectively have roughly $1.6 trillion in outstanding debt as of March 31. The administration has said it isThe Obama administration used borrower defense to
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