(WASHINGTON) — The Biden administration on Wednesday said it will cancel $6 billion in student loans for people who attended the Art Institutes, a system of for-profit colleges that closed the last of its campuses in 2023 amid accusations of fraud. Saying the chain lured students with “pervasive” lies, the Education Department is invoking its power to cancel student loans for borrowers who were misled by their colleges. [time-brightcove not-tgx=”true”] “This institution falsified data, knowingly misled students, and cheated borrowers into taking on mountains of debt without leading to promising career prospects at the end of their studies,” President Joe Biden said in a statement. The Education Department will automatically erase loans for 317,000 people who attended any Art Institute campus between Jan.

BING NEWS:
  • Biden Cancels $6B in Debt for Former Students of the Art Institutes
    The chain's tactics led borrowers to borrow high amounts of debt for programs that didn't pay off, the department said. “The Art Institutes preyed on the hopes of students attempting to better ...
    05/1/2024 - 8:56 am | View Link
  • Art Institute loan forgiveness: Biden cancels $6B in debt for 317,000
    The chain's tactics led borrowers to borrow high amounts of debt for programs that didn't pay off, the department said. “The Art Institutes preyed on the hopes of students attempting to better their ...
    05/1/2024 - 2:14 am | View Link
  • Art Institute loan forgiveness: Biden cancels $6B in debt for 317,000
    The chain's tactics led borrowers to borrow high amounts of debt for programs that didn't pay off, the department said. “The Art Institutes preyed on the hopes of students attempting to better ...
    05/1/2024 - 2:14 am | View Link
  • Biden Cancels $6.1 Billion in Debt for Former Art Institute Students
    The announcement covers 317,000 former students and marks another ... more than $6 billion in student debt for 317,000 people who attended the Art Institutes, a now-defunct network of for-profit ...
    04/30/2024 - 1:00 pm | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Politics News