Released: August 18, 2022

Dept of ED cancels more ITT student loan debt

Source: Katie Lobosco, CNN

The Department of Education said that it will cancel $3.9 billion in student loan debt for 208,000 students who attended the now-defunct for-profit ITT Technical Institute -- bringing the total amount of loan discharges approved under President Joe Biden to nearly $32 billion.

The department will automatically cancel all remaining federal student loan debt that borrowers took on to attend the school from January 1, 2005, through its closure in September 2016.  Former ITT Tech students with federal student loans are eligible for the cancellation even if they have not previously applied for relief under the Department of Education's Borrower Defense to Repayment program, which offers cancellation to those who can show they have been defrauded or misled by their colleges.

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