The Biden administration says it will cancel more than $70 million in student debt for borrowers who say they were defrauded by the for-profit DeVry University.
It marks another step in the administration’s work to clear a backlog of claims in the borrower defense program, which forgives debt for students who are defrauded by their colleges.
According to the agency, DeVry made false claims about the success of its graduates from 2008 to 2015. Similar allegations from the Federal Trade Commission led to a $100 million settlement with DeVry in 2016.
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