Education Department discharges $500 million in debt for 18,000 ITT students in sign of borrower defense progress

The Education Department (ED) is discharging $500 million in student loan debt held by 18,000 borrowers who had been defrauded by now-defunct for-profit chain ITT Tech, a sign that the Biden administration is working to address the borrower defense backlog.

“Our action today will give thousands of borrowers a fresh start and the relief they deserve after ITT repeatedly lied to them,” Education Secretary Miguel Cardona said in a statement. “Today’s action is part of the Biden-Harris Administration’s continued commitment to stand up for borrowers when their institutions take advantage of them."

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