Political and Legislative
The Education Department Forgives $415 Million in Student Debt
The U.S. Department of Education has announced it will cancel the student loans of nearly 16,000 borrowers who attended certain for-profit schools, including DeVry University. The relief comes out to $415 million in total.
“The Department remains committed to giving borrowers discharges when the evidence shows their college violated the law and standards,” said Education Secretary Miguel Cardona, in a statement Wednesday.
“Students count on their colleges to be truthful,” Cardona added. “Unfortunately, today’s findings show too many instances in which students were misled into loans at institutions or programs that could not deliver what they’d promised.”
