$42M Settlement Benefits Students of Former Rochester School
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St. Paul, MN (KROC-AM News) - Hundreds of former students of two defunct for-profit colleges in Minnesota could soon see their student loan debt erased and receive additional compensation.
Minnesota Attorney General Keith Ellison has announced a tentative settlement totaling $42 million to benefit 920 former students of the Minnesota School of Business and Globe University. The Minnesota School of Business operated the campus in northwest Rochester until both of the postsecondary schools shut down three years ago after the US Department of Education removed them from the federal student loan program. That followed a ruling by a Minnesota court that found the schools committed consumer fraud by misleading students.
Fargo, ND, USA / Y94
Mar 17, 2021 9:46 AM
ST. PAUL, Minn. (KFGO) – Hundreds of former students who were defrauded by the Minnesota School of Business and Globe University may be getting all of their money back.
Attorney General Keith Ellison announced the tentative agreement Tuesday. 920 students who attended the schools between 2009 and 2015 would be affected. As a part of the agreement, more than $23-million in federal student loan debt would be forgiven and $15.6-million in cash compensation would be paid out to students enrolled in the criminal justice programs at the two schools.
Courts and the U-S Dept. of Education still have to approve the agreement.
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$42M Settlement Benefits Students of Former Rochester School therockofrochester.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therockofrochester.com Daily Mail and Mail on Sunday newspapers.
More than 900 former students of the Minnesota School of Business and Globe University will receive more than $42 million in financial relief, the state attorney general says.