Loan forgiveness offered to more former ITT Tech students

By COLLIN BINKLEY
AP Education Writer

The Education Department has announced it will forgive student debt for more than 100,000 borrowers who attended colleges in the now-defunct ITT Technical Institute chain but left before graduating. The agency says it will erase federal loans for borrowers who left the for-profit colleges during an eight-year window before their 2016 closure. The department says ITT Tech lied about its financial health during that period. The action will offer $1.1 billion in loan forgiveness to 115,000 borrowers who attended ITT Tech. The company shut down in 2016 after being dealt a series of sanctions by the Obama administration. ITT Tech had more than 130 campuses across 38 states.