President Joe Biden is taking action to help students who were misled by their schools. Nearly 85,000 people will have their federal student debt forgiven through the Borrower Defense Loan Discharge program. This includes students whose schools closed while they were enrolled or who were deceived by their schools.
Students who attended schools owned by the Center for Excellence in Higher Education, such as Independence University and California College San Diego, between 2006 and 2021, will receive $1.15 billion in debt forgiveness. Additionally, borrowers who attended Drake College of Business between 2008 and 2015 will have $107 million in debt canceled. Those who enrolled in the Criminal Justice Program at Lincoln Technical Institute in Massachusetts between 2010 and 2013 will receive $1.4 million in loan forgiveness.
Furthermore, 61,000 federal student loan borrowers with total and permanent disabilities will receive $2.5 billion in debt erasure. The Education Department is also granting loan forgiveness to 6,100 borrowers under the Public Service Loan Forgiveness program, totaling $465 million.
If you believe you may qualify for loan forgiveness under these programs, be on the lookout for email notifications from the Education Department. Stay informed and take advantage of the resources available to help manage your student loans effectively.