Congrats! You just paid off $55.6 million in college loans
The Department of Education canceled an additional $55.6 million in student loan debt for 1,800 students who were allegedly victims of a for-profit college fraud, bringing the total amount of canceled student loan debt by the Biden administration to $1.5 billion.
This is an institution overseas. We’re responsible for that too.
This is similar to the alleged predatory lending by banks for homes under the Obama administration. It was a fraud, an excuse to hand out free money to their constituents. The truth is that Democrats forced banks to lend to people who couldn’t afford to pay the loans.
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The Department of Education has canceled $1.5 billion in student loan debt since Biden took office Updated: 6:48 PM CDT Jul 9, 2021 Katie Lobosco, CNN Share Updated: 6:48 PM CDT Jul 9, 2021
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The latest breaking updates, delivered straight to your email inbox. Share Updated: 6:48 PM CDT Jul 9, 2021 Katie Lobosco, CNN Related video above: How Student Loans Affect Your Credit ScoreThe Department of Education has canceled a total of $1.5 billion in student loan debt for nearly 92,000 students, who were victims of for-profit college fraud, since President Joe Biden took office.The current administration has been taking steps to address the backlog of more than 100,000 forgiveness claims leftover from the Trump administration. In its latest move, the Department of Education said Friday that it is canceling about $55.6 million, approving claims from 1,800 borrowers who attended either the now-defunct Westwood
Dept. of Education cancels more than $55 million in student debt for-profit college students
Andrew Harnik/AP
FILE - In this March 17, 2021, file photo, Education Secretary Miguel Cardona speaks during a press briefing at the White House in Washington. The U.S. Education Department has announced it will forgive student loans for more than 1,800 borrowers who attended for-profit colleges that made false recruiting claims. (AP Photo/Andrew Harnik)
and last updated 2021-07-09 20:16:42-04
The U.S. Department of Education announced on Friday that the student loans of more than 1,800 borrowers who attended a for-profit college were fraud victims.
In a statement, the Biden administration said they were canceling more than $55 million in debt for former students that attended Westwood College, the Marinello Schools of Beauty, and the Court Reporting Institute.