What University of Phoenix CEO George Burnett was asked whether he was aware of abuses by Westwood College.

Students, including many veterans who attended the for-profit institutions, will have debts dismissed. Will others get relief?

The Nebraska senator and former university president says rather than wiping the slate clean on student debt, Washington should take a hard look at reforming a broken system.

But the billionaire says 'ridiculous tuition fees' must be addressed alongside it. 'We don't want this being a perennial problem.'