Education Department’s Student Loan Discharges Represent Only 6% of Unresolved Borrower Defense Claims | Press Release
Today, the U.S. Department of Education announced that it will cancel $415 million in federal student loans for approximately 16,000 borrowers, including former students of the for-profit colleges ITT Tech, Corinthian Colleges, DeVry University, Westwood College, Marinello Schools of Beauty, and Minnesota School of Business/Globe University. The Department described its findings as “instances in which students were misled into loans at institutions or programs that could not deliver what they’d promised.”
New Report Details Massive Scale of Fraud and Abuse at Notorious For-Profit College ITT Tech | Press Release
The Project on Predatory Student Lending today released a new report detailing the massive scale of fraud and abuse by the defunct for-profit college ITT Tech. The report, “Dreams Destroyed: How ITT Technical Institute Defrauded a Generation of Students” was made public and sent today to Education Secretary Miguel Cardona. It presents the largest volume of evidence compiled on ITT, including thousands of ITT’s own internal records. The documents unequivocally show that ITT was not a legitimate educational institution: it systematically and brazenly lied to students in order to profit from their federal financial aid.
Congress Urged To Stop Propping Up Fraudulent For-Profit Colleges With Federal Pell Grants | Press Release
As part of President Biden’s Build Back Better framework, Democrats in Congress have proposed restricting for-profit colleges from receiving federal funds in the form of Pell Grant awards, a student aid program for those with significant financial need. “Congress should no longer prop this fraudulent industry up with taxpayer funds…that are supposed to help the lowest income students.”
Statement on Extended Closed School Discharges for ITT Borrowers | Press Release
Today, the U.S. Department of Education announced that it will make $1.1 billion in closed school discharges available to an additional 115,000 borrowers who attended the now-defunct ITT Technical Institute (ITT). According to the Department, this segment of borrowers includes those who did not complete their degree or credential and left ITT on or after March 31, 2008.
Statement on Education Department Approving ITT Borrower Defense Claims | Press Release
Today, the Department of Education announced that it will approve the borrower defense applications of a select 18,000 student borrowers who attended ITT Technical Institute (ITT). According to the Department, the borrowers will receive 100 percent loan discharges, resulting in approximately $500 million in relief.
Statement on Legislative Plan to Cancel Fraudulent Corinthian and ITT Student Debt | Press Releases
Senators Durbin, Brown, and Warren, and Congressmembers Takano and Jayapal introduced a legislative plan to completely cancel the loans of borrowers who have long been deemed eligible for borrower defense discharge.
Student Advocates Announce Closed School Discharges for Over 30,000 Student Borrowers | Press Release
Student Defense and the Project on Predatory Student Lending issued statements today responding to the U.S. Department of Education’s confirmation that it had discharged loans for over 30,000 student borrowers under the automatic closed school discharge provision of the 2016 borrower defense rule. The discharges include roughly $95.1 million in relief for approximately 7,700 former students of the predatory for-profit college, ITT Tech.
Statement From The Project on Predatory Student Lending On Senator Warren’s Plan For Student Debt Cancellation | Press Release
Senator Elizabeth Warren announced her plan to “cancel student debt on day one” of a Warren presidency, citing a Project on Predatory Student Lending legal analysis which outlines the President’s legal authority to direct the Secretary of Education to cancel student loan debt.
STATEMENT: “This hearing has made clear once again that Secretary DeVos won’t let the law get in the way of her agenda against students” | Press Release
Secretary DeVos made her point very clear in today’s hearing: she does not believe that cheated borrowers are legally entitled to relief.
Project on Predatory Student Lending Statement on Education Department’s Processing of Automatic Closed School Discharges For Former ITT Students | Press Release
The Project on Predatory Student Lending today issued the following statement after the U.S. Department of Education confirmed it has finally begun to process automatic closed school loan discharges for a select group of former students of the predatory for-profit college, ITT Tech.