Former students of the for-profit Art Institutes are approved for $6 billion in loan cancellation

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The department says it's taking action after reviewing evidence from the attorneys general of Massachusetts, Iowa and Pennsylvania, which previously investigated complaints of fraud and sued the for-profit chain. Campuses also advertised graduate salaries that were based on fabricated data and included extreme outliers to make averages look better, the department said.

“The Art Institutes preyed on the hopes of students attempting to better their lives through education,” said Richard Cordray, chief operating officer of the Education Department's Federal Student Aid office. “We cannot replace the time stolen from these students, but we can lift the burden of their debt."

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Former students of the for-profit Art Institutes are approved for $6 billion in loan cancellationThe Biden administration says it will cancel $6 billion in student loans for people who attended the Art Institutes, a system of for-profit colleges that closed the last of its campuses in 2023 amid accusations of fraud. The Education Department says the Art Institutes chain lured students with “pervasive” lies.
Source: AP - 🏆 728. / 51 Read more »

Former students of the for-profit Art Institutes are approved for $6 billion in loan cancellationThe Biden administration says it will cancel $6 billion in student loans for people who attended the Art Institutes, a system of for-profit colleges that closed the last of its campuses in 2023 amid accusations of fraud
Source: sdut - 🏆 5. / 95 Read more »