The Biden administration on Wednesday announced it will cancel more than $70 million in student debt for borrowers who say they were defrauded by the for-profit DeVry University — the first time the Education Department has approved such claims for an institution that’s still in operation.
At least 1,800 former DeVry students will get their loans cleared after the department concluded that the school lied about the success of its graduates in order to get new students to enroll. The agency said it plans to force the school to cover the cost of the $71.7 million in loan discharges.
