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The Education Department (ED) is discharging $1.1 billion for 115,000 defrauded former students of the for-profit ITT Technical Institute (ITT) after a new review of existing regulations.. ITT ...
Joseph White, the former ITT Tech student in Missouri, is in a similar situation: Having taken out $80,000 in student loans to attend ITT for two degrees in the 2000s, he filed a borrower defense ...
363,000 Borrowers Defrauded by ITT Technical Institute. Before ITT Technical Institute closed its doors in 2016, the for-profit school allegedly deceived some students into taking on unnecessary debt.
In 2014, Time magazine ranked ITT Technical Institute No. 2 on its list of "The 5 Colleges That Leave the Most Students Crippled By Debt". Among ITT Tech graduates with loans due in 2011, 22% had defaulted by 2014. This statistic compares with a default rate of about 13.7% for student loans generally.
Loan forgiveness. On June 1, 2022, the U.S. Department of Education announced it would forgive $5.8 billion in federal student loans made to Corinthian College students between 1995 and 2015, which forgiveness would impact 560,000 borrowers and would be the single largest discharge of student loans in history according to the department.
The Education Department is discharging $3.9 billion for 208,000 defrauded former students who attended the for-profit ITT Technical Institute from January 1, 2005, through its closure in ...
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