WASHINGTON – Students who were defrauded by their colleges and received only partial relief from their federal loans could now see them fully canceled, the Biden administration announced Thursday, reversing a Trump administration policy.
The change could lead to $1 billion in loans being canceled for 72,000 borrowers, all of whom attended for-profit schools, the Education Department said. “Borrowers deserve a simplified and fair path to relief when they have been harmed by their institution’s misconduct,” said Secretary of Education Miguel Cardona. “A close review of these claims and the associated evidence showed these borrowers have been harmed, and we will grant them a fresh start from their debt.” The department said it was rescinding