The Department of Education on Tuesday announced that it was cancelling $3.9 billion in student loan debt for attendees of ITT Technical Institute, a now-defunct college that allegedly defrauded its students.
“It is time for student borrowers to stop shouldering the burden from ITT’s years of lies and false promises,” Education Secretary Miguel Cardona said, per the New York Daily News. “The evidence shows that for years, ITT’s leaders intentionally misled students about the quality of their programs in order to profit off federal student loan programs, with no regard for the hardship this would cause.”
The $3.9 billion covers 208,000 […]
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