NAICU Washington Update

$415 Million to be Forgiven in Student Loans

February 18, 2022

Due to further processing of borrower defense to repayment claims by the Department of Education, nearly 16,000 student loan borrowers are projected to receive $415 million in total student loan forgiveness. Recipients of the loan forgiveness are student borrowers who attended DeVry University, Westwood College, Corinthian Colleges, the nursing program at ITT Technical Institute, the criminal justice programs at the Minnesota School of Business and Globe University, and Marinello Schools of Beauty. 

The new student loan forgiveness amount brings the total for approved relief under borrower defense to repayment to approximately $2 billion for more than 107,000 borrowers and an overall total of $16 billion in loan discharges for more than 680,000 borrowers. 

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