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The federal government is discharging $37 million in student loans for over 1,200 former students who attended the University of Phoenix. The action applies to borrowers who enrolled in Phoenix ...
The Biden administration is canceling nearly $37 million of federal student loan debt for more than 1,200 borrowers who attended the University of Phoenix because it found that the for-profit ...
University of Phoenix leaders have said they expect the financial hit from student-loan costs to be about $1.5 million per year, according to a U of I FAQ page about the acquisition. U of I ...
The University of Phoenix was one of 153 institutions included in student loan cancellation due to alleged fraud. The class action was brought by a group of more than 200,000 student borrowers in 2019, assisted by the Project on Predatory Student Lending, part of the Legal Services Center of Harvard Law School. [92]
In June 2019, Student CU Connect CUSO, a private lender for ITT Tech, settled with the Consumer Financial Protection Bureau and 44 states and the District of Columbia. The settlement called for CUSO to forgive a reported $168 million in private student loans. CUSO agreed to stop collecting on, and discharge, all of the loans. Academics
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
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