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Biden’s Education Secretary just canceled $1 billion of student-loan debt for about 72,000 defrauded borrowers

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Although student debt cancellation for every American has not been implemented, debt accrued by students who were frauded by for-profit schools will see their loans forgiven in the coming weeks.

In his first major move as Education Secretary for President Joe Biden, Miguel Cardona on Thursday reversed a Trump-era policy that gave only partial relief to defrauded students. For-profit institutions that shut down years ago, like Corinthian Colleges and ITT Technical Institutes, violated federal law by persuading their students to take out loans, and Cardona’s new policy will help approximately 72,000 of those students receive details ⇒

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