Education department to erase $415 million in student loan debt for nearly 16,000 borrowers

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Education department to erase $415 million in student loan debt for nearly 16,000 borrowers

Thousands of students have filed fraud complaints against their university or college and now many are set to have their student loan debts erased as the U.S. Department of Education approved $415 million in borrower defense claims.

The U.S. Department of Education announced Wednesday that nearly 16,000 student borrowers will receive $415 million in borrower defense, a legal provision that promises loan relief for defrauded borrowers, after it found multiple schools misled students.

Devry University was found to have misrepresented its job placement rates, alongside new findings related to Westwood College, the nursing program at ITT Technical Institute, and the criminal justice programs at Minnesota School of Business/Globe University and Corinthian Colleges.

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