Biden Administration Allocates $3.9 Billion in Loans to Former ITT Tech Students – The Elkhart Truth | Vette Leader

(The Center Square) – The federal government will provide $3.9 billion in loans to ITT Tech students. That’s for about 208,000 students who borrowed money between 2005 and 2016 to attend the now-defunct for-profit college in Carmel, Indiana, which went bankrupt on allegations of fraudulent practices.

US Secretary of Education Miguel Cardona announced the decision in a statement, saying, “It’s about time student borrowers stopped shouldering the burden of ITT’s years of lies and false promises about the quality of their programs in order to shift from government student loan programs.” benefit without regard to the hardship it would cause.”

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