Washington, D.C. – The U.S. Department of Education announced yesterday that it will discharge all remaining federal student loans for borrowers who attended ITT Technical Institute (ITT) from January 2005 through September 2016. The relief, $3.9 billion in total, will benefit about 208,000 borrowers.
In response, Jaylon Herbin, outreach and policy manager for the Center for Responsible Lending (CRL), made the following statement:
We applaud the administration for providing relief to the tens of thousands of former ITT Tech students who had been defrauded by their school. However, while historic, this action represents only a tiny fraction of the 44 million students who need cancellation in this country. The administration now needs to immediately provide substantial, broad-based relief and abandon its piecemeal approach to cancellation.
ITT, once among the largest for-profit colleges in the country, shut down in 2016 after facing government sanctions for misleading students about job prospects and their ability to transfer credits from other institutions.
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