https://apnews.com/article/student-loan-cancellation-art-institutes-debt-forgiveness-cf6aea3b2d545dd80c8927059f6c3ce6Saying the chain lured students with “pervasive” lies, the Education Department is invoking its power to cancel student loans for borrowers who were misled by their colleges.
“This institution falsified data, knowingly misled students, and cheated borrowers into taking on mountains of debt without leading to promising career prospects at the end of their studies,” President Joe Biden said in a statement.
The Education Department will automatically erase loans for 317,000 people who attended any Art Institute campus between Jan. 1, 2004, and Oct. 16, 2017.
The Education Department says that the school "doctored data" on graduate outcomes, which it used to lure incoming students into thousands of dollars in debt for degrees that are effectively worthless.
