Biden announces $6.1B student loan debt relief for Art Institutes attendees
By Lauren Taylor (Anchor/Reporter), Emma Stoltzfus (Video Editor)
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Former students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on Associated Press NewsBiden forgives another $6B in debt for students of for-profit chain The Art Institutes
Click to see story on USA TodayFormer students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on abc NewsBiden to cancel $6 billion in student debt for borrowers misled by The Art Institutes, a former for-profit college group
Click to see story on CNNBiden administration to clear $6.1B in debt of former Art Institutes students
Click to see story on The Washington PostBiden forgives $6.1 billion in student debt for 317,000 borrowers. Here’s who qualifies for relief.
Click to see story on CBS NewsBiden Clears $6 Billion in Debt for Closed Art School’s Students
Click to see story on BloombergBiden forgives more than $6 billion in loans for 317,000 Art Institutes students
Click to see story on npr317,000 student-loan borrowers are getting $6.1 billion in debt canceled after being misled about career prospects and how much money they could make after graduation
Click to see story on Business InsiderBiden to cancel $6B in student debt for borrowers misled by The Art Institutes
Click to see story on abc 6 PhiladelphiaBiden to cancel $6B in student debt for borrowers misled by The Art Institutes
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Click to see story on abc30 NewsBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WISH-TVStatement from President Joe Biden on $6.1 Billion in Student Debt Cancellation for 317,000 Borrowers who Attended the Art Institutes
Click to see story on The White HouseBiden approves $6.1 billion in student loan debt relief for Art Institute enrollees
Click to see story on ReutersBiden forgives $6.1 billion in student debt for borrowers misled by Art Institute
Click to see story on CNBCBiden forgives more than $6 billion in student debt for 317,000 defrauded borrowers
Click to see story on The HillFormer students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on Winnipeg Free PressFormer students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on WPLGBiden to cancel $6B in student debt for borrowers misled by The Art Institutes
Click to see story on abc 7 ChicagoBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on KCRA 3Former students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
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Click to see story on WYFFBiden to cancel $6 billion in student debt for borrowers misled by The Art Institutes, a former for-profit college group – Boston News, Weather, Sports
Click to see story on WHDHBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on KCCIBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on KMBCFormer students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on KOB 4Biden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WPTZBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WMTWBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
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Click to see story on WAPTArt Institute loan forgiveness: Biden cancels $6B in debt for 317,000
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Click to see story on WGALArt Institute loan forgiveness: Biden cancels $6B in debt for 317,000
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Click to see story on Krem2 NewsBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WJCLBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on KHBSArt Institute loan forgiveness: Biden cancels $6B in debt for 317,000
Click to see story on Fort Smith/Fayetteville NewsFormer students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on AZ Family – PhoenixBiden cancels $6.1 billion in student debt for attendees of defunct, for-profit art school
Click to see story on Washington TimesBiden approves $6.1 billion in student loan debt relief for Art Institute enrollees
Click to see story on The Straits TimesFormer students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on National PostBiden announces fresh round of $6.1 billion in student loan handouts, brings total given to $160 billion
Click to see story on Fox BusinessBiden administration forgives $6B in loans amidst Art Institutes fraud claims
Click to see story on WPDERight
The Biden administration announced Wednesday, May 1, that it will be canceling $6.1 billion in student loan debt for 317,000 people. The debt forgiveness targets people who attended the now-defunct for-profit Art Institutes.
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In a statement President Joe Biden said the Art Institutes “falsified data, knowingly misled students and cheated borrowers into taking on mountains of debt without leading to promising career prospects at the end of their studies.”
“For more than a decade, hundreds of thousands of hopeful students borrowed billions to attend the Art Institutes and got little but lies in return,” Education Secretary Miguel Cardona said.
The Education Department said the Art Institutes lied to students by falsifying the average salaries of graduates. The Art Institutes’ parent company, the Education Management Corporation, sold its schools in October 2017 and filed for bankruptcy in 2018.
The remaining Art Institutes colleges stayed open under new management until September 2023.
In 2022, the U.S. Supreme Court rejected Biden’s first attempt to cancel $400 billion in student debt for 43 million Americans through executive action.
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Since that time, his administration has attempted to forgive student loans using a more targeted approach, attempting to circumvent legal challenges.
In this case, the Biden administration is using the Borrower Defense Loan Discharge Program, making borrowers eligible for relief if they’ve been defrauded by their university.
To qualify for forgiveness, borrowers must’ve been enrolled at any Art Institutes school between Jan. 1, 2004, and Oct. 16, 2017. Eligible borrowers won’t have to take any action the debt will be forgiven automatically.
About 43 million borrowers owe $1.7 trillion in student loan debt, according to the Education Data Initiative.
[LAUREN TAYLOR]
THE BIDEN ADMINISTRATION ANNOUNCED WEDNESDAY – IT’S CANCELING $6.1 BILLION IN STUDENT LOAN DEBT – FOR 317,000 PEOPLE.
The debt forgiveness targeted for people WHO ATTENDED THE now-defunct for-profit ART INSTITUTES.
IN A STATEMENT, PRESIDENT BIDEN SAID THE ART INSTITUTES “FALSIFIED DATA, KNOWINGLY MISLED STUDENTS AND CHEATED BORROWERS INTO TAKING ON MOUNTAINS OF DEBT WITHOUT LEADING TO PROMISING CAREER PROSPECTS AT THE END OF THEIR STUDIES.”
EDUCATION SECRETARY MIGUEL CARDONA SAID “FOR MORE THAN A DECADE, HUNDREDS OF THOUSANDS OF HOPEFUL STUDENTS BORROWED BILLIONS TO ATTEND THE ART INSTITUTES AND GOT LITTLE BUT LIES IN RETURN.”
THE EDUCATION DEPARTMENT SAID THE ART INSTITUTES LIED TO STUDENTS BY FALSIFYING THE AVERAGE SALARIES OF GRADUATES. THE ART INSTITUTES’ PARENT COMPANY -THE EDUCATION MANAGEMENT CORPORATION- SOLD IT’S SCHOOLS in OCTOBER 2017 AND FILED FOR BANKRUPTCY IN 2018. THE REMAINING ART INSTITUTES COLLEGES STAYED OPEN UNDER NEW MANAGEMENT UNTIL SEPTEMBER 2023.
TWO YEARS AGO – THE US SUPREME COURT REJECTED BIDEN’S FIRST ATTEMPT TO CANCEL $400-BILLION IN STUDENT DEBT FOR 43 MILLION AMERICANS THROUGH EXECUTIVE ACTION.
SINCE THAT TIME – HIS ADMINISTRATION HAS ATTEMPTED TO FORGIVE STUDENT LOANS USING A MORE TARGETED APPROACH IN an attempt TO CIRCUMVENT LEGAL CHALLENGES.
IN THIS CASE, THE BIDEN ADMINISTRATION IS USING THE BORROWER DEFENSE LOAN DISCHARGE PROGRAM – MAKING BORROWERS ELIGIBLE FOR RELIEF IF THEY’VE BEEN DEFRAUDED BY THEIR UNIVERSITY.
IN ORDER TO QUALIFY FOR FORGIVENESS – BORROWERS MUST’VE BEEN ENROLLED AT ANY ART INSTITUTES SCHOOL BETWEEN JANUARY 1, 2004 – AND OCTOBER 16TH, 2017.
ELIGIBLE BORROWERS WON’T HAVE TO TAKE ANY ACTION – THE DEBT WILL BE FORGIVEN AUTOMATICALLY.
ABOUT 43 MILLION BORROWERS OWE $1.7 TRILLION IN STUDENT LOAN DEBT – ACCORDING TO THE EDUCATION DATA INITIATIVE.
Media Landscape
See who else is reporting on this story and which side of the political spectrum they lean. To read other sources, click on the plus signs below. Learn more about this dataBias Distribution
Left
Former students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on Associated Press NewsBiden forgives another $6B in debt for students of for-profit chain The Art Institutes
Click to see story on USA TodayFormer students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on abc NewsBiden to cancel $6 billion in student debt for borrowers misled by The Art Institutes, a former for-profit college group
Click to see story on CNNBiden administration to clear $6.1B in debt of former Art Institutes students
Click to see story on The Washington PostBiden forgives $6.1 billion in student debt for 317,000 borrowers. Here’s who qualifies for relief.
Click to see story on CBS NewsBiden Clears $6 Billion in Debt for Closed Art School’s Students
Click to see story on BloombergBiden forgives more than $6 billion in loans for 317,000 Art Institutes students
Click to see story on npr317,000 student-loan borrowers are getting $6.1 billion in debt canceled after being misled about career prospects and how much money they could make after graduation
Click to see story on Business InsiderBiden to cancel $6B in student debt for borrowers misled by The Art Institutes
Click to see story on abc 6 PhiladelphiaBiden to cancel $6B in student debt for borrowers misled by The Art Institutes
Click to see story on abc 13 HoustonBiden to cancel $6B in student debt for borrowers misled by The Art Institutes
Click to see story on abc11 RaleighBiden to cancel $6B in student debt for borrowers misled by The Art Institutes
Click to see story on abc 7 NewsBiden to cancel $6B in student debt for borrowers misled by The Art Institutes
Click to see story on abc30 NewsBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WISH-TVStatement from President Joe Biden on $6.1 Billion in Student Debt Cancellation for 317,000 Borrowers who Attended the Art Institutes
Click to see story on The White HouseBiden approves $6.1 billion in student loan debt relief for Art Institute enrollees
Click to see story on ReutersBiden forgives $6.1 billion in student debt for borrowers misled by Art Institute
Click to see story on CNBCBiden forgives more than $6 billion in student debt for 317,000 defrauded borrowers
Click to see story on The HillFormer students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on Winnipeg Free PressFormer students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on WPLGBiden to cancel $6B in student debt for borrowers misled by The Art Institutes
Click to see story on abc 7 ChicagoBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on KCRA 3Former students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on Click on DetroitBiden to cancel $6B in student debt for borrowers misled by The Art Institutes
Click to see story on abc 7 LABiden to cancel $6B in student debt for borrowers misled by The Art Institutes
Click to see story on abc 7 NYBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WMURBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WLKYBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WESHBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on Koco News5Biden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on KETVBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WDSUBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WTAEBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WYFFBiden to cancel $6 billion in student debt for borrowers misled by The Art Institutes, a former for-profit college group – Boston News, Weather, Sports
Click to see story on WHDHBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on KCCIBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on KMBCFormer students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on KOB 4Biden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WPTZBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WMTWBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WVTMBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WAPTArt Institute loan forgiveness: Biden cancels $6B in debt for 317,000
Click to see story on WFAA 8abcBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WPBFBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WGALArt Institute loan forgiveness: Biden cancels $6B in debt for 317,000
Click to see story on KPNXArt Institute loan forgiveness: Biden cancels $6B in debt for 317,000
Click to see story on Krem2 NewsBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on WJCLBiden to cancel $6 billion in student debt for borrowers misled by former for-profit college group
Click to see story on KHBSArt Institute loan forgiveness: Biden cancels $6B in debt for 317,000
Click to see story on Fort Smith/Fayetteville NewsFormer students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on AZ Family – PhoenixBiden cancels $6.1 billion in student debt for attendees of defunct, for-profit art school
Click to see story on Washington TimesBiden approves $6.1 billion in student loan debt relief for Art Institute enrollees
Click to see story on The Straits TimesFormer students of the for-profit Art Institutes are approved for $6 billion in loan cancellation
Click to see story on National PostBiden announces fresh round of $6.1 billion in student loan handouts, brings total given to $160 billion
Click to see story on Fox BusinessBiden administration forgives $6B in loans amidst Art Institutes fraud claims
Click to see story on WPDERight
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