Dep’t of Ed approves $6 billion in student loan relief for students of college shut down amid fraud allegations

The Department of Education today approved roughly $6 billion in student loan relief for more than 300,000 students who attended The Art Institutes, a network of for-profit colleges that was plagued by fraud allegations before completely shutting down in September 2023. The chain’s parent company, Education Management Corporation, reached a nearly $100 million settlement with the Justice Department in 2015 after a series of lawsuits and lost its accreditation years ago. USA Today has the story, here.

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