Biden administration cancels $55.6 million in student loan debt for fraud victims

The Biden administration announced Friday that it is canceling $55.6 million in student loan debt for those defrauded by certain for-profit institutions.

The Education Department said it approved over 1,800 requests not to repay from students who attended three institutions: Westwood College, Marinello Schools of Beauty, and the Court Reporting Institute, according to the agency’s website.

"Today’s announcement continues the U.S. Department of Education’s commitment to standing up for students whose colleges took advantage of them," Education Secretary Miguel Cardona said. "We also hope these approvals serve as a warning to any institution engaging in similar conduct that this type of misrepresentation is unacceptable."

The administration has already canceled $1.5 billion in debt for roughly 92,000 borrowers who in March claimed to have been defrauded by other institutions: ITT Technical Institute and Corinthian College.