U.S. says $168 million ITT for-profit student loans to be forgiven

June 18, 2019 | Reuters

Former students at ITT Technical Institute will not have to pay $168 million they still owe on private loans from an affiliated lender to attend the now-defunct for-profit college, under a U.S. regulatory settlement announced on Friday.

Student CU Connect CUSO, created in 2008 to fund and manage loans for ITT students, reached the settlement with the Consumer Financial Protection Bureau, 44 states and Washington D.C. to resolve claims over its alleged shoddy business practices.

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