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Last week, Education Secretary Miguel Cardona canceled $1 billion in student loan debt for about 72,000 defrauded borrowers.
The decision, his first major one as Biden’s education chief, came after a series of investigations over the last decade of for-profit schools for engaging in fraudulent behavior related to federal loans. Corinthian Colleges and ITT Technical Institute were the main institutions connected to the debt canceled by Cardona, but other institutions were accused of doing similar things, according to a series of legal settlements.
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