Biden to cancel $6B in student debt for borrowers misled by The Art Institutes

The Department of Education found that the schools misled prospective students about graduates' job placement rates and average salaries.As the November election approaches, President Joe Biden has been touting how it has become easier for many borrowers to qualify for federal student debt relief since he took office. The administration has been sending emails directly to those who are newly eligible.

Wednesday's announcement is one of the biggest group discharges made under the borrower defense program and follows multiple investigations by attorney general offices in Iowa, Massachusetts and Pennsylvania into The Art Institutes and its parent company Education Management Corporation, known as EDMC.

The Department of Education said it would take immediate steps to pause impacted loans so that borrowers will not need to make payments during the time needed for loan servicers to process the discharge. The debt will also be removed from borrowers' credit reports.

The Department of Education is also conducting a recount of past payments to fix administrative errors, bringing some people closer to debt relief.

The Art Institutes Student Loan Student Loan Cancellation Art Institutes Closing Art Institutes Loans Art Institutes Student Loans Art Institute

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Biden deploys $6.6B to boost global chipmaker in key swing stateThe preliminary CHIPS award is noteworthy for confirming that TSMC will not only build semiconductor fabrication facilities or “fabs” in the U.S., but also deploy its most advanced technology in development.
Source: politico - 🏆 381. / 59 Read more »

Biden admin pledges $6.6B to ensure most advanced microchips are built in USThe Biden administration pledged up to $6.6 billion for Taiwan Semiconductor Manufacturing Co. to expand its Arizona sites and better ensure cutting-edge microchips are made in the U.S.
Source: FoxNews - 🏆 9. / 87 Read more »

Inside a Scottsdale art theft: Records link suspected thief to art heist in West HollywoodAnne Ryman is an award-winning journalist and Arizona resident since 1991
Source: abc15 - 🏆 263. / 63 Read more »

Ann Rudd Art Center unveils ‘Crossroads: Change in Rural America’ art exhibitThe exhibit is from the Smithsonian Institute and was made possible with the help of the Alabama Humanities Alliance.
Source: WTVYNews4 - 🏆 590. / 51 Read more »

San Diego weekend art events: Caribbean art, contemporary dance and Tolstoy popThis weekend in the arts in San Diego: a major exhibition of Caribbean art; Disco Riot artists-in-residence; a musical based (however loosely) on 'War and Peace'; The Old Globe celebrates Shakespeare's birthday; Chicano Park Day; plus live music picks and more arts and culture this weekend.
Source: KPBSnews - 🏆 240. / 63 Read more »

The Best Places to Buy Affordable Art Online: Shop Large Wall Art, Framed Posters and MoreShowcase your personality by shopping ET's round-up of stylish wall art.
Source: etnow - 🏆 696. / 51 Read more »