Thousands of students defrauded by for-profit schools will have their federal loans fully erased, the Biden administration announced Thursday, reversing a Trump administration policy that had given them only partial relief. The change could lead to $1 billion in loans being canceled for 72,000 borrowers, all of whom attended for-profit schools, the Education Department said. The borrower defense to repayment program allows students to have their federal loans canceled if they were defrauded by their schools. The Education Department said a total of 343,331 applications for relief under borrower defense had been received as of Feb. 28. Sen. Patty Murray, who heads the Senate committee overseeing education, said DeVos used “faulty math” to deny students full relief.

Source: Los Angeles Times March 18, 2021 23:48 UTC