Former students of the shuttered Marinello Schools of Beauty will have their loans forgiven, totaling $238 million for approximately 28,000 students, the federal government announced Thursday.
The news comes six years after Marinello abruptly closed its doors at its beauty schools across the country, including campuses in Los Angeles, Burbank, Moreno Valley and Sacramento. The for-profit college was owned and managed by B&H Education Inc. and headquartered in Beverly Hills.
Federal investigators found numerous issues with the school's management and the company's business model. B&H was run by its president Rashed Elyas, Mike Flecker and Nancy Alpough, authorities said.
