The Biden administration is forgiving $6.1 billion in student debt for 317,000 people who attended The Art Institutes, closed last fall due to fraud. This move is part of Biden's strategy to address the nation's $1.7 trillion student debt.
The Biden-Harris Administration has approved a sweeping $6.1 billion group discharge of student loans for 317,000 borrowers who attended The Art Institutes.
More than $80 million in federal student loan debt will be discharged for over 3,500 former Massachusetts borrowers who attended “predatory” art colleges, including the New England Institute of Art.