In total, the new relief will forgive $37 million in debt for students who the Department of Education said were misled by the University of Phoenix—an online, for-profit institution—through false advertising.
"These borrowers were cheated into believing that by attending the University of Phoenix they would have promising career prospects at Fortune 500 companies—yet those benefits and opportunities never existed," Biden said in a statement shared withPresident Joe Biden is pictured at the White House in Washington, D.C., on June 30, 2023, as he announced new actions to protect borrowers after the Supreme Court struck down his student loan forgiveness plan.
The University of Phoenix previously found itself in legal strife over promising prospective students that they would have preferential job opportunities at top companies like AT&T, Yahoo!,