Federal Loan Debt to Be Canceled for Former ITT Technical Institute Students

Federal Loan Debt to Be Canceled for Former ITT Technical Institute Students

(IRN) – Students who used federal loans to attend ITT Technical Institute, which had three Illinois locations, will automatically, get that debt canceled by the federal government.

The Education Department said the action will cancel $3.9 billion in federal student debt for 208,000 borrowers.

ITT was among the largest for-profit college chains in the country, with locations in Mount Prospect, Oak Brook and Orland Park.

The school filed for bankruptcy in 2016 following accusations that the company pushed students into risky loans and misled them about academic programs.

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