Student loan debt is a burden for anyone, but this is especially true for those who used student loans to pay for fraudulent institutions. If you are a member of the latter group, then you may be in for some relief.
People who took out loans to attend some for-profit schools shut down by the government will get their money or back or have their student loan debt forgiven.
Many of these students attended schools like Corinthian Colleges and ITT Tech, schools the government found to be defrauding students. The Obama administration created the “borrower defense rule” which was designed to help students recover lost money or have applicable student loans forgiven.
However, the Department of Education under Betsy DeVos attempted to block and delay the effects of this new rule citing fairness to taxpayers and schools. The federal courts found this to be illegal and ordered the department to begin discharging loans under the new regulation, and it looks like at least for now, DeVos and the Department of Education are complying.
If you attended a fraudulent institution or a school shut-down by the government, you may be eligible for financial relief and can submit an application here. (Federal Student Aid)