The college closed down after paying a settlement to the Justice Department.
The Department of Education announced another round of student loan forgiveness, canceling the debts of students previously enrolled at any Art Institute campus from 2004 onward.
The Art Institute, a nationwide for-profit college, closed all of its campuses after paying the Justice Department $95.5 million to settle allegations of false recruiting tactics in 2015. By canceling the student loans of former Art Institute students, nearly 317,000 borrowers receive debt relief for $6.1 billion in student debt.
“For more than a decade, hundreds of thousands of hopeful students borrowed billions to attend The Art Institutes and got little but lies in return. That ends today,” said Secretary of Education Miguel Cardona. “We must continue to protect borrowers from predatory institutions—and work toward a higher education system that is affordable to students and taxpayers.”
As the Lord Leads, Pray with Us…
- For wisdom for the president and education secretary as they seek to relieve student borrowers of federal loans.
- For U.S. education officials as they investigate the practices and claims of universities and institutions of higher education.
Sources: Department of Education, PBS
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