U. S. Secretary of Education Betsy DeVos will cancel $10.8 million of student loan debt.
U.S. Secretary of Education Betsy DeVos will cancel $10.8 million of student loan debt.More than 1,500 students who attended Art Institute of Colorado and the Illinois Institute of Art, two for-profit schools, between January 20, 2018 and December 31, 2018 will have approximately 4,000 federal student loans cancelled and their Federal Pell Grant eligibility restored.
Rep. Bobby Scott , chairman of the House Committee on Education and Labor believes that DeVos and the Education Department supported efforts to “retroactively accredit” both educational institutions by rewriting Department policy. Both Art Institute of Colorado and the Illinois Institute of Art had their accreditation revoked in January 2018 and stopped enrolling students in July 2018. Typically, students who were enrolled when a school closes or who withdrew not more than 120 days before the school closed can have their federal student loans from that school forgiven if they meet certain requirements.
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