Biden cancels $6 billion in student loans for 317,000 Americans scammed by art school and brings total handouts to more than $160 billion before the 2024 election

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Education Department found the school misled students about alumni success

Used one-time student Serena Williams’ multi-million dollar salary to skew the average wage of graduates

President Biden has wipe out debt for 4.6 million borrowers since taking office

The Biden administration announced Wednesday it canceled $6 billion in student debt for borrowers who attended the Art Institutes between 2004 and 2017.

Numerous legal actions accused the U.S. college chain of using ‘pervasive’ methods to entice students, including using one-time student Serena Williams ‘ multi-million dollar salary as a means to skew the average wage of alumni.

President Joe Biden’s latest handout brings the total forgiveness to $160 billion for 4.6 million borrowers ahead of November’s election. It doubles-down on Biden’s promise to wipe out student debt after the Supreme Court ruled he could not take the sweeping action he wanted earlier in his administration.

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‘This institution falsified data, knowingly misled students, and cheated borrowers into taking on mountains of debt without leading to promising career prospects at the end of their studies,’ the president said in a statement on the most recent wave of student loan relief.

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Biden’s Education Department will automatically erase loans for 317,000 people who attended any Art Institute campus between January 1, 2004, and October 16, 2017. Relief recipients will start receiving emails on Wednesday confirming the forgiveness

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