Biden forgives $6.1 billion in student debt for 317,000 borrowers. Here's who qualifies for relief.

The Biden administration is forgiving $6.1 billion in student debt for 317,000 people who attended The Art Institutes, a for-profit chain of schools that shut down last fall amid allegations of fraud.The latest effort represents President Joe Biden's plan to tackle the nation's $1.7 trillion in student debt after the Supreme Court last year blocked his administration's plan for broad-based college loan forgiveness.

In the case of The Art Institutes, the Education Department's investigation found that the company falsely claimed that 80% of its graduates found jobs in their fields of study within six months of graduation. In reality, the figure never rose above 57%, the department said. The school also allegedly misrepresented its graduates' earnings and annualized the estimated incomes of grads who were in temporary jobs.

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Biden-Trump Gaffe Tracker: Biden Reads ‘Pause’ From TeleprompterSara Dorn is a Forbes news reporter who covers politics, with a focus on elections and Capitol Hill. She joined Forbes in 2022 and is based in New York. She's covered the 2022 midterms, 2024 presidential campaign and the 118th session of Congress. Dorn graduated in 2012 from the University of Dayton with a degree in journalism.
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