Former ITT Technical Institute Students Granted $500M In Loan Forgiveness

Credit FILE PHOTO: Dwight Burdette / Wikimedia Commons
Around 18,000 former students of closed college ITT Technical Institute will no longer need to repay federal loans totaling $500 million. The U.S. Department of Education announced Wednesday the borrowers will receive 100 percent loan cancellation.
ITT Tech filed for bankruptcy and closed its campuses in 2016 following a series of sanctions by the Obama administration. The college chain's parent company, ITT Educational Services Inc., was based in Carmel. Campuses in the state included Indianapolis, Fort Wayne and South Bend.
Education Secretary Miguel Cardona said the former students will get a new start after the for-profit college deceived them.

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