Education Department to forgive $415 million in student debt for nearly 16,000 borrowers who were misled by colleges – By Tori B. Powell (CBS News) / February 16, 2022
The Department of Education has approved $415 million in borrower defense claims for nearly 16,000 former students after new evidence showed that their schools may have misled them into loans. The latest round of loan forgiveness brings the total amount approved by the department to approximately $2 billion for more than 107,000 borrowers.
“When colleges and career schools put their own interests ahead of students, we will not look the other way,” Federal Student Aid COO Richard Cordray said in a statement Wednesday.
DeVry University
About 1,800 former DeVry University students will be forgiven of $71.7 million after the Department of Education reviewed “voluminous amounts of evidence” that suggested the university repeatedly misled prospective students.
CONTINUE > https://www.cbsnews.com/news/education-department-student-debt-borrowers-forgiveness/
