Biden administration cancels $37 million in student loans for former University of Phoenix students – By Lexi Lonas (The Hill) / Sept 20. 2023
The Biden administration announced Wednesday it is canceling $37 million in student loan debt for students of the online University of Phoenix.
The money will cancel the debt for 1,200 former students whom the administration said were tricked into believing the for-profit school had connections with Fortune 500 companies.
The borrowers who received forgiveness had to apply for the Borrower Defense program, which the Education Department uses to forgive student loans for those who have been defrauded by their university.
The University of Phoenix had to pay $191 million in 2019 to settle claims brought against them accusing the school of using deceptive advertising to attract students.
