Department of Education offers $1.1 billion in loan forgiveness to ITT Tech students
The Department of Education will forgive $1.1 billion in federal loans for students who attended the now-defunct ITT Technical Institute but left after March 2008 without finishing their degree.
ITT Tech shut down in 2016, closing more than 130 schools after the Education Department said it could no longer enroll new students who needed federal loans and grants. Students had long accused the for-profit college of using fraudulent recruitment practices, and the Education Department launched an investigation. In a statement, the department said it found that "for years, ITT hid its true financial state from borrowers while luring many of them into taking out private loans with misleading and unaffordable terms that may have caused borrowers to leave school."
By forgiving the $1.1 billion in federal loans, about 115,000 former students will see their debt erased, Axios reports. There has been a push for the government to wipe out more student loans, and since January, the Education Department has forgiven $9.5 billion in loans, affecting more than 563,000 borrowers.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia is night editor for TheWeek.com. Her writing and reporting has appeared in Entertainment Weekly and EW.com, The New York Times, The Book of Jezebel, and other publications. A Southern California native, Catherine is a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
Arizona grand jury indicts 18 in Trump fake elector plot
Speed Read The state charged Mark Meadows, Rudy Giuliani and other Trump allies in 2020 election interference case
By Peter Weber, The Week US Published
-
Antony Gormley's Time Horizon – a 'judgmental army' of 100 cast-iron men
The Week Recommends Sculptures are 'everymen questioning the privilege of their surroundings' at the Norfolk stately home
By Adrienne Wyper, The Week UK Published
-
'King's horses take free rein through London'
Today's Newspapers A roundup of the headlines from the US front pages
By The Week Staff Published
-
USC under fire for canceling valedictorian speech
Speed Read Citing safety concerns, the university canceled a pro-Palestinian student's speech
By Rafi Schwartz, The Week US Published
-
Florida teachers can 'say gay' under settlement
speed read The state reached a settlement with challengers of the 2022 "Don't Say Gay" education law
By Peter Weber, The Week US Published
-
Biden administration to forgive $39B in student loan debt for 800K borrowers
Speed Read
By Theara Coleman Published
-
Advocacy groups challenge Harvard's legacy admissions policy
Speed Read
By Catherine Garcia Published
-
2 Michigan school districts ban backpacks after confiscating 4th gun this year
Speed Read
By Theara Coleman Published
-
Education Department to limit bans on transgender student athletes but allow exceptions
Speed Read
By Peter Weber Published
-
UAE becomes 1st Middle Eastern country to mandate Holocaust education in schools
Speed Read
By Justin Klawans Published
-
College admissions scandal mastermind sentenced to 3.5 years in prison
Speed Read
By Devika Rao Published