RICHMOND, Va. (WRIC) — Attorney General Jason Miyares announced on Tuesday, Aug. 16, that more than 7,000 individuals across the commonwealth will be given federal student loan forgiveness as a result of ITT Technical Institute’s misleading advertising.
According to a statement from the Virginia Attorney General’s Office, 24 states, including Virginia, and the District of Columbia filed a borrower defense application with the United States Department of Education seeking loan forgiveness for students who were affected by allegations that ITT Technical Institute falsely marketed the value of its degrees in order to persuade students to enroll in its program.
Attorney General Miyares’ announcement came after his Office reviewed the effect of ITT’s misconduct under Virginia law based on the evidence submitted.
“Attending higher education is a big decision, and a sacrifice for many Virginians. No institution should lie to prospective students or mislead them about jobs and future opportunities,” Miyares said in the statement. “I’m proud of my Office’s work to protect Virginia consumers and to seek forgiveness of the remaining student debt for those Virginians taken advantage of.”
Approximately 7,190 people in Virginia will receive about $141.6 million in federal student loan discharges, according to the statement from the Attorney General’s Office. No action is needed on the part of affected borrowers to receive this relief.
The statement also said that more than 208,000 former students across the country who attended ITT from January 2005 to September 2016 will get about $3.9 billion combined in loan forgiveness.