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Thousands of former ITT Technical Institute students are getting their loans forgiven

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Posted at 9:06 AM, Jun 17, 2021
and last updated 2021-06-17 09:06:43-04

CARMEL — Thousands of people who attended ITT Technical Institute are no longer required to pay off their student loans.

The U.S. Department of Education announced it's erasing student loan debt for former ITT Tech students.

The Carmel-based for-profit college went bankrupt and abruptly closed all 130 campuses in 2016.

The Biden Administration is approving 18,000 loan forgiveness claims from former students. That will clear more than $500 million in debt.

The move is also a step forward in the Biden Administration's effort to clear a backlog of loan forgiveness claims to students defrauded by their colleges.