He states the defunct for-profit college misled students since 2005.
The Education Department announced last week that all federal student loans used to attend ITT Technical Institute anytime after the year 2005 are being canceled. President Biden’s administration had found “widespread and pervasive misrepresentations” marketed by the institute, causing the for-profit college chain to close all 130 of its campuses in 2016.
“The evidence shows that for years, ITT’s leaders intentionally misled students about the quality of their programs in order to profit off federal student loan programs, with no regard for the hardship this would cause,” Education Secretary Miguel Cardona said. This decision will cancel a combined student loan debt of $3.9 billion for 208,000 federal loan borrowers.
As the Lord Leads, Pray with Us…
- For Secretary Cardona to make wise decisions as he heads the Education Department.
- For U.S. education officials as they assess the claims of colleges and universities in their recruitment messaging.
- For Richard Cordray as he manages the Office of Federal Student Aid.
Sources: The Hill, Reuters
