Biden Administration announces $72 million student debt cancellation for Ashford University borrowers

The Biden administration has announced the cancellation of $72 million in student debt for over 2,300 borrowers who attended Ashford University.

These borrowers, who applied for loan cancellation through the U.S. Department of Education’s borrower defense process, were found to have been misled or defrauded by the online for-profit school between 2009 and 2020. Former students reported difficulties in completing their programs or securing employment due to substantial misrepresentations made by the university.

Eligible borrowers will receive notifications of the debt forgiveness in September. This action is part of the Biden administration’s ongoing efforts to address student loan debt, having already forgiven $116 billion in student debt for over 3.4 million individuals through various programs.

This is not part of President Joe Biden’s attempt to forgive up to $20,000 in student debt for millions of Americans which was blocked by the U.S. Supreme Court in June. However, he has recently announced that he plans to follow through on that promise through different legislation.

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