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Their debt is being wiped out.READ MORE: Protesters Say Benet Academy In Lisle Rescinded Lacrosse Coach's Job Offer Because She Is A Lesbian
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.READ MORE: Local College Professor Charged With Hate Crime, Accused Of Yelling Racial Slurs At Woman, Spitting On Her, And Hitting Her Car In Oak Park Jewel-Osco Parking Lot
The U.S. Department of Education said it’s forgiving 100% of ITT student loans, around $500 million worth.
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“This work also emphasizes the need for ongoing accountability so that institutions will never be able to commit this kind of widespread deception again.” – @SecCardona
Read more➡️ https://t.co/Q1teb1BoWm pic.twitter.com/S3994GAEhd
— U.S. Department of Education (@usedgov) June 16, 2021MORE NEWS: Metallica Performs Surprise Show At The Metro