Loan Relief Granted to Defrauded For-Profit College Students

The Biden administration said it is approving 18,000 loan forgiveness claims from former students of ITT Technical Institute.

  • Published
FILE - Students find the doors locked to the ITT Technical Institute campus in Rancho Cordova, Calif. The U.S. Education Department says it's erasing student debt for thousands of borrowers who attended a for-profit college chain that made exaggerated claims about its graduates' success in finding jobs. The Biden administration is approving 18,000 loan forgiveness claims from former students of ITT Technical Institute, a chain that closed in 2016. (AP Photo/Rich Pedroncelli, File)
Image via AP Photo/Rich Pedroncelli

This article was republished here with permission from The Associated Press, however it is no longer available to read on Snopes.com.

The U.S. Education Department said Wednesday it’s erasing student debt for thousands of borrowers who attended a for-profit college chain that made exaggerated claims about its graduates’ success in finding jobs. The Biden administration said it is approving 18,000 loan forgiveness claims from former students of ITT Technical Institute, a chain that closed in 2016 after being dealt a series of sanctions by the Obama administration. The new loan discharges will clear more than $500…

Read at AP News