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Biden Cancels Another $6 Billion in Student Loans for Borrowers Enrolled at Shuttered Art Institutes

HeadlineMay 02, 2024

President Biden announced another $6 billion in student loan relief, this time for over 300,000 borrowers who attended the Art Institutes. Biden said the now-shuttered group of for-profit colleges “knowingly misled students, and cheated borrowers into taking on mountains of debt without leading to promising career prospects.” The Biden administration has now canceled $160 billion of student debt for some 4.6 million borrowers since the Supreme Court blocked a plan to cancel over $400 billion in federal debt.

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