Biden approves $6.1 billion in student debt relief for Art Institute enrollees
The Biden administration announced May 1 the approval of more than $6.1 billion in student loan debt relief for thousands of borrowers who were enrolled at any Art Institute campus from January 2004 to October 2017.
The private-for-profit system of art schools closed in September 2023 following a slew of legal issues. Nearly 317,000 student loan borrowers are approved for automatic student loan relief, according to the administration.
The U.S. Department of Education found that the Art Institutes and its parent company, Education Management Corporation, “made pervasive and substantial misrepresentations to prospective students about postgraduation employment rates, salaries and career services during that time,” adding that attorneys general offices in Iowa, Massachusetts and Pennsylvania conducted multi-year investigations into the art schools and provided materials like internal employment data, admissions training manuals and the school’s employment advertisements.
Read more: U.S. Department of Education
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