The Department of Education is erasing the debts of students who were defrauded at a for-profit college.
The agency said in a statement that …
The Department of Education is erasing the debts of students who were defrauded at a for-profit college. The agency said in a statement that it had approved $500 million in loan cancellation for 18,000 borrowers who were defrauded by ITT Technical Institute. ITT is accused of misleading students on their likely employment prospects after graduation and the ability to transfer their credits to other schools. The school, between 2005 and 2016, made “repeated and significant misrepresentations” to students about how much they could expect to earn and the jobs they could get after graduating, the agency said.
