RUBBED OUT

Biden Admin Wipes Out Half-Billion Dollars of Debt for Defrauded Students

Department of Education approves 18,000 loan forgiveness claims from students at a for-profit college chain that exaggerated their likely success in the job market.

About 18,000 students who attended a for-profit college chain after being lied to about their likely job prospects are to have their debts officially erased. U.S. Secretary of Education Miguel Cardona said the move, covering some $500 million of debt, “will give thousands of borrowers a fresh start and the relief they deserve.” The ITT Technical Institute chain closed its 130 campuses in 2016 after being hit by a string of federal sanctions: It had been accused of pushing dodgy loans and misleading students about the quality of their courses. According to the Associated Press, the Biden administration is trying to clear a backlog of more than 100,000 claims under the “Borrower Defense” program, set up under former President Barack Obama to help students defrauded by their colleges but spurned by the Trump administration.