Student Loan Debt was canceled by the administrative body for the students who were cheated. The administration led by Joe Biden took this decision keeping in mind the welfare of the students.
After the decision made by the administration of Biden, the Ministry of Education made the all-important announcement. They declared on Friday, the cancellation of Student Loan Debt worth $55.6 million.
Student Loan Debt Worth $55.6 Cancelled For Students Who Fell Victim To Fraud
Students who have applied for the student loan were allegedly cheated. Students of The College Of Westwood, The Beauty Schools Of Marinello & The Institute Of Court Reporting benefited from the decision. 1800 students received the benefits however, the chunk of the exemption will be delivered to the students of The College of Westwood. Student Loan Debt Worth $53 million was canceled. The institute ceased to function after 2015.
This institution was accused of falsely claiming to the students the possession of credits. It had branches all over America. In the period of over 13years, The College of Westwood tricked its students into believing that they would get a placement at multiple organizations.
A sum of $2.2 & $340,000 was canceled for the students of Marinello & The Reporting School of Court respectively.
This decision was the result of the defense project taken up by the Ministry of Education. This act provides for the cancellation of Student Loan Debt to those cheated by any organization. The Secretary stated that the act will keep on doing the job to ensure the minimization of any frauds. He also said that this decision will serve as a warning and prevent any institution to repeat such acts.