According to a new report, it appears the Biden Administration is now looking to expand student loan forgiveness to include students who claim that they were defrauded by for-profit colleges.
According to a new report, it appears the Biden Administration is now looking to expand student loan forgiveness to include students who claim that they were defrauded by for-profit colleges.
The Details: The new initiative is a key part of the Biden administration’s new attempt to try and tackle student loan forgiveness in a slow, piecemeal fashion.
Many for profit colleges are now worried that the move could incentivize students to falsely claim they were defrauded by the school in a quest to have their loans forgiven.
So far the Biden administration has discharged around $2 billion of debt held by former students of for-profit colleges who claimed they were defrauded.
Follow us on Twitter and Facebook!