Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

BumRushDaShow

(146,897 posts)
Wed Jan 15, 2025, 05:11 PM Jan 15

In last major batch of student loan relief, Biden forgives $4.5B for 261K borrowers

Source: USA Today

Published 12:01 p.m. ET Jan. 15, 2025 | Updated 12:01 p.m. ET Jan. 15, 2025


WASHINGTON – The Biden administration approved its last major batch of student loan relief Wednesday, greenlighting $4.5 billion in forgiveness for 261,000 borrowers.

The recipients of the debt cancellation attended Ashford University, a former for-profit school that the U.S. Department of Education determined made “substantial misrepresentations” about its program quality and costs to federal student loan borrowers. The school was later acquired by the University of Arizona, which enlisted Ashford’s parent company, Zovio, to run its University of Arizona Global Campus.

The federal agency greenlit the relief through legal grounds called borrower defense to repayment, a program that allows the federal government to grant discharges for defrauded students. Borrowers approved through the program usually have taken out loans to attend schools subsequently found to have engaged in misconduct, such as exaggerating how much money students can expect to make after graduation.

James Kvaal, the education under secretary, said in a statement Wednesday that state and local investigations have shown that 90% of Ashford students never graduated. Those who did were left with hefty debt and only able to earn low wages, he said. “Today’s announcement will finally provide relief to students who were harmed by Ashford’s misdeeds,” Kvaal said.

Read more: https://www.usatoday.com/story/news/education/2025/01/15/biden-student-loan-forgiveness-ashford/77694122007/



Link to Department of Education PRESS RELEASE - Biden-Harris Administration Announces Group Discharge for 261,000 Borrowers with Loans from Ashford University
1 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
In last major batch of student loan relief, Biden forgives $4.5B for 261K borrowers (Original Post) BumRushDaShow Jan 15 OP
Good job Pres. Biden riversedge Jan 15 #1
Latest Discussions»Latest Breaking News»In last major batch of st...