Biden cancels $1.5 billion in student debt for victims of for-profit school fraud
The Department of Education has canceled a total of $1.5 billion in student loan debt for nearly 92,000 students, who were victims of for-profit college fraud, since President Joe Biden took office.
The current administration has been taking steps to address the backlog of more than 100,000 forgiveness claims left over from the Trump administration. In its latest move, the Department of Education said Friday that it is canceling about $55.6 million, approving claims from 1,800 borrowers who attended either the now-defunct Westwood College, Marinello Schools of Beauty or the Court Reporting Institute.
The announcement comes a month after the Department of Education said it was canceling $500 million in student loan debt for 18,000 former ITT Tech students.
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