The Biden administration is forgiving $130 million in student debt for 7,400 borrowers who attended the now-defunct CollegeAmerica, a Colorado-based private school whose parent company allegedly misrepresented graduates’ salary, employment rates and other information.
The debt cancellation specifically applies to borrowers who attended CollegeAmerica’s Colorado-based locations between January 1, 2006 and July 1, 2020. The school is permanently closed but the Center for Excellence in Higher Education (CEHE), its parent company, remains in operation, according to its website.
