Some 208,000 people will get $3.9 billion in relief after the U.S. Department of Education canceled all remaining federal student debt taken on by borrowers who were cheated by ITT Technical Institute.
One of the largest operators of for-profit technical schools in the U.S. shut down in 2016 The Education Department said that borrowers shouldn't have to apply.
ITT Tech lied to students about their ability to get a job or transfer credits, according to the education department.
There are companies that help employees pay off student loans.
The U.S. Secretary of Education said that ITT misled students about the quality of their programs in order to make money off federal student loan programs.
The Biden-Harris Administration will work to strengthen oversight and enforcement to protect today's students from similar deception and abuse.
More than $32 billion in student loans have been canceled by the Biden-Harris administration.
More student loan debt has been forgiven by President Biden than any previous president.
The White House is under intense pressure to cancel student debt for all borrowers and President Joe Biden has promised to make a decision by the end of the month.
The story is evolving. You can check back for the latest news.
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