The department said the for-profit chain steered students into predatory private loans that were portrayed as grants and also lied about the state of its finances. ITTs malfeasance drove financial resources away from educating students to keep the chain in business for longer than the department says it should have been, resulting in the decision to expand relief.
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For years, ITT hid its true financial state from borrowers while luring many of them into taking out private loans with misleading and unaffordable terms that may have caused borrowers to leave school, Education Secretary Miguel Cardona said in a statement Thursday. Todays action continues the Departments efforts to improve and use its ta…
Read the full article at: https://www.washingtonpost.com/education/2021/08/26/itt-tech-debt-forgiveness/
