The Education Department on Thursday approved another $1.1 billion in loan-forgiveness requests from former ITT Technical Institute students who say they were swindled by the now-defunct chain of schools.
The loans of 115,000 former ITT students are being forgiven under a legal provision known as “closed school discharge,” available to students enrolled at schools which closed while they were enrolled or had recently withdrawn. The students didn’t complete their degrees or credentials and left ITT on or after March 31, 2008. The Department estimates that 43% the borrowers are now in default. Since President Biden took office, the Department has discharged $9.5 billion, affecting over 563,000 borrowers.
“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,” said U.S. Secretary of Education Miguel Cardona. “Today’s action continues the Department’s efforts to improve and use its targeted loan relief authorities to deliver meaningful help to student borrowers.”, after the government banned it from enrolling new students receiving federal aid.
Source: Education Headlines (educationheadlines.net)
🤟
1.1 billion is gone now 1869 billions left maybe BobbyAxelrod shorts it on SHO_Billions starts on September 5th on Showtime / paramountplus
If you couldn't tell by their commercials they were a joke you deserved to get ripped off. Take care of my student loans. A nurse who actually contributes to society. JFC
thanks
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.
Michael Thomas Claims L.A. Mansion Owner Ruined His Offseason Training, Sues For Over $1 MilMichael Thomas says his offseason training program was severely disrupted by some nightmare landlords in L.A. ... and now, he's suing.
Source: TMZ - 🏆 379. / 59 Read more »
Merlin Starts Construction on $1 Billion Legoland Theme Park in ShenzhenMerlin Entertainments on Thursday began construction in China of a Legoland theme park and resort that it says will be the world’s largest. The theme park resort on the Dapeng Peninsula, on the eas… If I didn’t know any better…I’d swear this was an Onion tweet!
Source: Variety - 🏆 108. / 63 Read more »
Biden has approved $9.5 billion in student loan cancellations this year for defrauded, disabled studentsThe Department of Education said Thursday that it will cancel $1.1 billion in student loan debt for some students who attended the now-defunct for-profit ITT Technical Institute -- bringing the total amount of loan discharges approved under President Joe Biden to $9.5 billion. See, now this is ok. ITT was always a fraud Its fun y because most of the people that got this had USELESS degrees... I’d be ok if loan forgiveness came for teachers and hcw’s 🤷🏻♀️
Source: CNN - 🏆 4. / 95 Read more »
Tech startup CEO charged with allegedly cooking books to pump up ‘unicorn’ valuationFormer CEO of Headspin Manish Lachwani allegedly quadrupled the company’s overall revenue as the firm sought to close a series C funding round that valued it at $1.1 billion. Lachwani has been charged in in northern Calif. with wire and securities fraud. Bitcoin ethereum This is an opportunity to recover from cryptos we’re doing $1000 pumping challange to $5000 + target in the next 21days Dm if interested xavieremtrades nice Imagine our shock
Source: MarketWatch - 🏆 3. / 97 Read more »
Why the corporate debt boom isn’t less risky because stocks are near recordsWith U.S. stock indexes recently fetching new records, some on Wall Street are arguing the fourfold increase of U.S. corporate debt in the past 30 years...
Source: MarketWatch - 🏆 3. / 97 Read more »
Biden Student Loan Forgiveness Has Cancelled This Much Debt, But Here’s How Much Is LeftWill your student loans get cancelled? this is terrible news This is how much he has forgiven: (A) Here's how much is left: (AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA... Episode 5 we took on the Talibans and the UnderWaterChallenge
Source: Forbes - 🏆 394. / 53 Read more »