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Students who used federal loans to attend ITT Technical Institute as far back as 2005 will automatically get that debt canceled after authorities found “widespread and pervasive misrepresentations” at the defunct for-profit college chain.
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ITT Tech filed bankruptcy and abruptly closed in 2016, and U.S. DOE has already forgiven loans for 18,000 student borrowers it said were misled by the school as it grappled with financial troubles.
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Cori Brunson of Fort Wayne was a student at the local ITT Technical Institute campus. She was just three months from being certified as a registered nurse. Then, just before her semester began in 2016, she got a voicemail saying classes were canceled.
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The U.S. Education Department said Wednesday it's erasing student debt for thousands of borrowers who attended a for-profit college chain that made exaggerated claims about its graduates’ success in finding jobs.
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Indiana's share of a $330 million national settlement follows investigations by several attorneys general over student loans offered by the for-profit school.
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Hundreds of former Indiana students of the for-profit college ITT Technical Institute will receive $5.4 million in debt forgiveness.
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The provision, authored by U.S. Rep. Luke Messer, will restore GI Bill benefits to 7,000 veterans nationwide affected by the closure of ITT Tech.
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The Carmel, Indiana-based company filed for bankruptcy last year and shut 130 campuses nationwide amid a federal crackdown on the industry.
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Representatives from Ivy Tech and several other schools, including Indiana Wesleyan University and Grace College, will be at the Sept. 28 event at Ivy Tech's Illinois Fall Creek Center in Indianapolis.
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Indiana's Republican congressional delegation has filed legislation to help veterans who were students at ITT Technical Institute when the for-profit college suddenly shut down last week.