Biden Admin to Cancel $3.9B in Scholar Debt for Former ITT College students – CNET

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Approximately 208,000 former students who attended the now-defunct for-profit college will receive full loan discharges.

ITT Technical Institute Campus

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President Joe Biden and the Education Department approved $3.9 billion in student loan forgiveness on Tuesday, primarily for former students of the ITT Technical Institute. The measure will fully discharge any remaining federal student loans that borrowers received to attend the for-profit college from January 2005 through September 2016, when all ITT Technical Institute campuses closed permanently.

Roughly 100 federal student loan borrowers enrolled in the Medical Assistant or Medical Billing & Coding Program at Kaplan Career Institute’s Kenmore Square location in Massachusetts from July 1, 2011 to Feb. 16, 2012 will also receive loan discharges.

White House officials didn’t immediately respond to a request for additional comment.

More to come.

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