Biden administration to cancel $1.1 billion in student debt for some borrowers who attended ITT, the

[nitpicker]

https://www.msn.com/en-us/money/careersandeducation/biden-administration-to-cancel-1-1-billion-in-student-debt-for-some-borrowers-who-attended-itt-the-defunct-for-profit-college/ar-AANMgG3?ocid=msedgntp

Biden administration to cancel $1.1 billion in student debt for some borrowers who attended ITT, the defunct for-profit college
Jillian Berman 35 mins ago

Roughly 115,000 student loan borrowers who attended ITT Technical Institute but left without a degree will have their federal student loan debt cancelled, resulting in $1.1 billion in relief, the U.S. Department of Education announced Thursday.

The loan cancellation is the latest fallout from the collapse of ITT, once one of the largest for-profit college chains before it shuttered in 2016 amid scrutiny from its accreditor, state attorneys general and the Consumer Financial Protection Bureau.

Already, the Department of Education has cancelled $500 million in loans held by 18,000 former students who attended ITT during a period when the school misled students about expected salaries and jobs after graduation and their ability to transfer their credits to other institutions, according to the agency. Some former ITT students have received more than $100 million in private student loan relief as well.
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[multigraincracker]

1. Sounds a lot like Trump U.

Cost them a bundle, per student too.

[Johnny2X2X]

2. ITT was such a scam

I worked there one Summer in the early 90s in their job placement room. Total scam and their graduates largely weren't getting jobs in their field and if they were they were low paying.

[frazzled]

3. Note: This is not IIT (Illinois Institute of Technology)

Which is a recognized research university with a long history in engineering, architecture, etc.. ITT, by contrast, is a for-profit scheme with 130 campuses across the nation.

I first saw “IIT” and was shocked, until I figured it out.

[multigraincracker]

4. Sounds a lot like Trump U.

Cost them a bundle, per student too.