A federal judge in San Francisco granted final approval Wednesday to a settlement that could cancel at least $6 billion in federal student loans for approximately 200,000 borrowers who argued they had been defrauded by their colleges.
The move, by Judge William Alsup, marks the latest development in a Trump-era lawsuit by borrowers against the U.S. Department of Education, and stipulates that borrowers who are part of the class-action suit and who attended one of 153 mostly for-profit colleges are entitled to full and automatic relief from their federal student loans.
