U.S. forgives $3.9 bln in federal loans for ITT Tech students

[BidenPresident]

WASHINGTON, Aug 16 (Reuters) - Former students of ITT Technical Institute will not have to pay $3.9 billion they still owe in federal student loans to the now-defunct for-profit college, the U.S. Department of Education said on Tuesday.

ITT Educational Services Inc, which ran ITT Technical Institute, closed its roughly 130 campuses and filed for bankruptcy in Sept. 2016, amid growing regulatory scrutiny of for-profit colleges' recruiting and financing practices.

https://www.reuters.com/world/us/us-forgives-39-bln-federal-loans-itt-tech-students-2022-08-16/

 

[evince]

Awesome

 

[Geeko Sportivo]

WASHINGTON, Aug 16 (Reuters) - Former students of ITT Technical Institute will not have to pay $3.9 billion they still owe in federal student loans to the now-defunct for-profit college, the U.S. Department of Education said on Tuesday.

ITT Educational Services Inc, which ran ITT Technical Institute, closed its roughly 130 campuses and filed for bankruptcy in Sept. 2016, amid growing regulatory scrutiny of for-profit colleges' recruiting and financing practices.

https://www.reuters.com/world/us/us-forgives-39-bln-federal-loans-itt-tech-students-2022-08-16/

Awwh! Great!

My Grand Daughter was already 2 years into her Electronics Engineering Degree path with ITT when they folded and leaving her abandoned. She still needed to complete another year of study to get her degree.

This will be good news for her.

 

[Dutch Uncle]

WASHINGTON, Aug 16 (Reuters) - Former students of ITT Technical Institute will not have to pay $3.9 billion they still owe in federal student loans to the now-defunct for-profit college, the U.S. Department of Education said on Tuesday.

ITT Educational Services Inc, which ran ITT Technical Institute, closed its roughly 130 campuses and filed for bankruptcy in Sept. 2016, amid growing regulatory scrutiny of for-profit colleges' recruiting and financing practices.

https://www.reuters.com/world/us/us-forgives-39-bln-federal-loans-itt-tech-students-2022-08-16/

"Last month, President Joe Biden said the government would cancel $6 billion in student loans for 200,000 borrowers who claimed they were defrauded by their colleges."

I have sympathy for those defrauded, but if the US taxpayers are forced to pay $6B for this fraud I want to see $6B worth of Frauder hide nailed to the school house doors.