Education Dept. discharges $3.9 billion of student debt for ITT Tech borrowers

Summary by Ground News
The action will cancel $3.9 billion in federal student debt for 208,000 borrowers. At its height, ITT was among the largest for-profit college chains in the nation. The company shut down after facing heavy sanctions from the Education Department. The debt is being forgiven using a federal rule known as borrower defense.
4 months ago·Washington, United States

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U.S. forgives $3.9 bln in federal loans for ITT Tech students

Former students of ITT Technical Institute will not have to pay $3.9 billion they still owe in federal student loans to the now-defunct for-profit college, the U.S. Department of Education said on Tuesday.

4 months ago·United Kingdom
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Former ITT Tech students get $3.9B in debt cancellation

WASHINGTON (AP) — Students who used federal loans to attend ITT Technical Institute as far back as 2005 will automatically get that debt canceled after authorities found “widespread and pervasive misrepresentations” at the defunct for-profit college chain, the Biden administration announced Tuesday.

4 months ago·United States
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Biden administration cancels another $3.9 billion in student loan debt for former for-profit college students

The Department of Education said Tuesday that it will cancel $3.9 billion in student loan debt for 208,000 students who attended the now-defunct for-profit ITT Technical Institute -- bringing the total amount of loan discharges approved under President Joe Biden to nearly $32 billion.

4 months ago·Atlanta, United States
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U.S. cancels $3.9 billion in loan debt of ITT Tech students

The Biden administration is extending loan forgiveness to former students of the now-defunct for-profit chain, ITT Technical Institutes.

4 months ago·Washington, United States
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Biden administration cancels $3.9 billion in student debt for 208,000 borrowers defrauded by ITT Tech

The U.S. Department of Education announced Tuesday that it would cancel the student loans for 208,000 borrowers who attended ITT Technical Institute.

4 months ago·United States
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Education Secretary Miguel Cardona on possible student loan pause extension: "Borrowers will know directly and soon"

With just days until an Aug. 31 deadline, it's still unclear if payments and interest will actually resume in September.

4 months ago·New York, United States
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