Biden Administration Announces $6B Cancellation Of Art Institute Student Debt For 317K Borrowers
Black Enterprise - 2024-05-02T21:50:00.000Z

Under Biden’s leadership, close to $29 billion in debt relief has been secured for 1.6 million borrowers whose institutions closed doors abruptly.

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Biden forgives more than $6B in student debt for 317,000 defrauded borrowers
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$6.1 billion in student loan debt canceled for enrollees at for-profit Art Institutes
When the for-profit Art Institutes operated by Education Management Corp. shut down in the wake of fraud and illegal recruiting allegations, they left thousands of former students saddled with debts amassed in overpriced courses of study — until this week. On Wednesday, the Biden administration announced that it was canceling $6.1 billion in student loan debt for people enrolled at any Art Institute from January 2004 through October 2017 — 317,000 former students in all, nearly 42,000 of whom...
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