Education Secretary Miguel Cardona on Wednesday announced the Biden administration will provide $500 million to fully cancel loans for 18,000 former ITT Technical Institute students.
June 16 (UPI) — The Department of Education announced Wednesday that it will fully cancel student loans for 18,000 former ITT Technical Institute students who were defrauded by the for-profit college. Education Secretary Miguel Cardona announced the department will provide $500 million in debt relief to ITT students in its first action based on the grounds that the defunct institution misled students about their ability to transfer credits to other schools and their professional prospects after graduation. « Our action today will give thousands of borrowers a fresh start and the relief they deserve after ITT repeatedly lied to them, » Cardona said.
