The U.S. Department of Education agreed to erase nearly $6 billion in student loans for borrowers who filed a class action lawsuit against the government after attending for-profit colleges that were found to have misled students.
The initiative would let donors get a tax break for contributions to a Student Opportunity Scholarship program that could be used for tuition at nonpublic schools.
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Education Secretary Miguel Cardona on Monday announced updates to the College Scorecard, a tool to help students weigh costs, future earnings and other factors when choosing institutions of higher education.