Former ITT Students Will Have Loans Wiped Out

CHICAGO (CBS) -- Former students at the now defunct ITT Technical Institute won't have to pay back any more students loans.

Their debt is being wiped out.

CBS 2 was there in 2016 when ITT Tech abruptly closed its schools in Arlington Heights and across the country.

ITT made students think they could transfer credits to other schools, but that rarely worked.

The U.S. Department of Education said it's forgiving 100% of ITT student loans, around $500 million worth.