Biden wipes out new batch of student loan debt; $72M for more than 2,300 borrowers
August 31, 2023 | Melissa Fine Despite having his student loan forgiveness program shut down by the Supreme Court, President Biden is plowing ahead with plans to wipe out the debt of student borrowers.
On Wednesday, the Department of Education (DOE) announced that the Biden-Harris Administration has approved the cancelation of $72 million in federal student loan debt “for more than 2,300 students who applied for relief from loans they took out to attend Ashford University (Ashford), which was an online for-profit school based in San Diego.”
The approvals followed a review by the DOE of “evidence presented by the California Department of Justice during a successful lawsuit brought against Ashford and its parent company, Zovio, Inc. (Zovio), which resulted in a judgment against both entities in March 2022.”
“Based upon evidence presented in that lawsuit, which covered the period from March 1, 2009, through April 30, 2020, the Department concluded Ashford and Zovio made numerous substantial misrepresentations during that period that borrowers relied upon to their detriment,” the DOE stated. “The approved claims are from borrowers who enrolled in Ashford during this period and filed applications for borrower defense with allegations corroborated by these findings.”
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https://www.bizpacreview.com/2023/08/31/biden-wipes-out-new-batch-of-student-loan-debt-72m-for-more-than-2300-borrowers-1391872/
