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The United States Department of Education announced that will cancel more than $ 500 million dollars of debt for 17, .
The Secretary of Education, Miguel Cardona, has gone slowly revealing , which was created to forgive federal loans if you studied at a school like ITT Tech.
What happened?
On 2016 ITT was found to have misled students about their employment prospects and closed their in stalls after receiving various sanctions from the Obama administration.
Many students realized that it was more difficult to get a job if they said on their resume that they had studied in one ITT Tech campuses.
This is the second round of loan cancellations for students who have been defrauded by for-profit schools since Biden came to the White House. In March the Biden administration announced the cancellation in March of $ 1, 000 million dollars in student debt for 72, 000 students. A study by revealed that . .
In January the Democratic congresswoman Alexandria Ocasio-Cortez asked President Joe Biden to immediately cancel student loan payments , after the president signed an order that extended the loans until the end of September.
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It is an important turn of 180 degrees in the Trump administration’s strategy, which viewed student loan forgiveness under the Borrower Defense program as “free money.”
Claims piled up during the Trump administration, which brought the program to a standstill and only began processing claims after a federal court required it. It is estimated that there are still more than 100, 000 pending claims .
