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Forbes

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Sep 15, 2020
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About this Deal

These former students will receive $330 million of student loan forgiveness.

Here’s what you need to know.
Student Loan Forgiveness

Approximately 35,000 former students of ITT Technical Institute, a former for-profit education company, collectively will receive $330 million of private student loan forgiveness. Based on today’s judgment:

There will be no further collection of 43,000 outstanding private student loan debt from these ITT Tech students.
Credit agencies will no longer reference this student loan debt on borrowers’ credit reports.
Former students don’t need to take any action to receive student loan forgiveness. Their student loans will be cancelled automatically, and they will receive more information about the settlement by mail.
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