(Newser) – Some Americans who incurred federal student loans as many as 17 years ago will see them erased. The Biden administration on Tuesday announced that students who used federal loans to attend ITT Technical Institute as far back as 2005 will automatically see their remaining debt canceled. CNBC reports that amounts to $3.9 billion in relief for 208,000 borrowers who attended the for-profit college chain. ITT Tech at one point had 130 campuses across 38 states; it shut down in 2016 after the Department of Education banned it from enrolling new students who use federal financial aid.

https://www.newser.com/story/324273/itt-tech-grads-get-39b-bits-of-good-news-from-biden.html

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