The Biden Administration Forgives An Additional $6.1 Billion In Student Loans From Shuttered For-Profit Universities

President Joe Biden continues to deliver loan justice for defrauded students. This time, it is The Art Institutes, a private art school system that shut down last year. President Biden said, in a statement, “This institution falsified data, knowingly misled students, and cheated borrowers into taking on mountains of debt without leading to promising career prospects at the end of their studies.” The relief averages around $19,000 per borrower. This latest round of¬†student loan forgiveness brings the total approved by the Biden Administration to almost $160 billion for nearly 4.6 million borrowers, an average of nearly $35,000 per student.

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