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Dept. of Education will cancel $1.1 billion in federal student loan debt for former ITT Tech students

The U.S. Department of Education announced on Thursday that it would forgive federal loans for students who attended ITT Technical Institute (ITT Tech) and left after March 2008 without getting a degree.

Why it matters: This announcement is part of an increased effort by the Biden administration to forgive student loan debt, and follows a federal investigation into alleged fraudulent recruitment practices at the for-profit college.

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