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.
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 lives through education,” said Richard Cordray, chief operating officer of the Education Department's Federal Student Aid office. “We cannot replace the time stolen from these students, but we can lift the burden of their debt.
Source: Education Headlines (educationheadlines.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.
Former students of the for-profit Art Institutes are approved for $6 billion in loan cancellationThe Biden administration says 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. The Education Department says the Art Institutes chain lured students with “pervasive” lies.
Source: AP - 🏆 728. / 51 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 »
MTA subway art featured in new book called 'Contemporary Art Underground''Contemporary Art Underground' focuses specifically on the 103 new pieces of art completed since 2015.
Source: ABC7NY - 🏆 592. / 51 Read more »