Dept. of Education to cancel $150 million in student loan debt

Local
Student+debt7_1544795123251.JPG

The U.S. Department of Education announced Thursday it would automatically cancel $150 million in student loans connected to for-profit colleges that closed in recent years.

The move was made under an Obama-era policy that a federal judge in October essentially forced U.S. Secretary of Education Betsy DeVos to implement. The story was first reported by Politico.

The discharge of loans applies automatically to about 15,000 students who attended now-defunct colleges that closed between Nov. 1, 2013, and Dec. 4, 2018, according to the department’s announcement.

Click here for more. 

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

More Check This Out
Loving Living Local 600x600

Don't Miss