The U.S. Department of Education (Department) announced Wednesday in a press release that it has approved 18,000 borrower defense to repayment (borrower defense) claims for individuals who attended ITT Technical Institute (ITT).
These borrowers will receive 100 percent loan discharges, resulting in approximately $500 million in relief, according to a press statement. “This brings total loan cancellation under borrower defense by the Biden-Harris Administration to $1.5 billion for approximately 90,000 borrowers,” the department said.
ITT Technical Institute was discontinued operations at all campuses effective Sep 6, 2016..
The program allows students who were defrauded by their schools to have their federal student loans forgiven.
The new approvals involved applications from students who attended ITT between 2005 and 2016 and said they were misled about their earning chances and students who attended between January 2007 and October 2014 and said they were misled about their ability to transfer credits to other institutions.
“Our action today will give thousands of borrowers a fresh start and the relief they deserve after ITT repeatedly lied to them,” said Education Secretary Miguel Cardona in a statement.
He continued: “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, he added. Many of these borrowers have waited a long time for relief, and we need to work swiftly to render decisions for those whose claims are still pending. This work also emphasizes the need for ongoing accountability so that institutions will never be able to commit this kind of widespread deception again.”
According to the statement: these approvals cover two categories of claims submitted by borrowers who attended ITT: their likely employment prospects and the ability to transfer credits. This is the first approval of a new category of borrower defense claims by the Department since January 2017.
The Department will begin notifying borrowers of their approvals in the coming weeks and will then work expeditiously to discharge the approximately $500 million loan balances for these borrowers.
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