Biden Clears $6 Billion in Debt for Closed Art School’s Students
- Move will help 317,000 students who attended subpar colleges
- Biden looks to deliver student-debt relief ahead of election
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President Joe Biden is forgiving $6.1 billion in student loans for more than 300,000 attendees of the Art Institutes, a shuttered group of private colleges accused of fraud — the latest effort to deliver on his promise of easing student-loan debt ahead of November’s election.
The Art Institutes once operated 50 campuses across the US, but its doors closed abruptly in September 2023. The move will provide automatic relief for 317,0000 people who enrolled in the colleges between Jan. 1, 2004 and Oct. 16, 2017.