Global Markets
Home›Global Markets›North America›Education Department to erase loans for 170,000 more d…
Education Department to erase loans for 170,000 more defrauded borrowers
The action expands a for-profit school fraud case into what the New York Times describes as the largest class-action settlement in U.S. history.
The U.S. Education Department plans to wipe out student loans for an additional 170,000 borrowers who were allegedly defrauded by for-profit schools, the New York Times reports.
The paper says the case has grown into the largest class-action settlement in American history.
The update builds on an earlier pattern of loan relief tied to students affected by the alleged misconduct by for-profit education providers, according to the report.
← Newer storyOil tumbles and stocks rise as Iran tension easesOlder story →Trump warns Iran faces last chance to strike deal on Strait of Hormuz
More like this
Global MarketsOil tumbles and stocks rise as Iran tension eases
Global MarketsUS Treasury joins Tokyo efforts to stabilize the yen