July 31, 2021

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Mortgage News

AG Slatery Urges U.S. Department of Education to Forgive Loans for Some ITT Tech Students

Nashville Attorney General Herbert H. Slatery III urged the Department of Education to cancel federal student loan debt for some students attending the ITT Technical Institute. The now-defunct nonprofit school defrauded thousands of people by encouraging them to take out and borrow loans based on false and misleading information about the value of an ITT degree.

The Borrower Defense Motion, filed today by a non-partisan coalition of 24 states and the District of Columbia, includes students who attended ITT Tech between at least 2007 and 2011.

Federal law allows the Ministry of Education to issue federal student loans if borrowers have been deceived in obtaining them. The attorneys general are calling for full relief for ITT students, including reimbursement of payments already made on these loans.

“In Tennessee, we had hundreds of students who just tried to make their lives better by training at ITT Tech and we were injured instead,” said General Slatery. “This agency will continue to work on their behalf to enforce the state’s consumer protection laws.”

Based on a Congress report 2012Between 2007 and 2010, ITT enrolled approximately 282,000 students nationwide. During this enrollment phase, ITT misrepresented the value of its education, telling prospective students that after graduation they would get high-paying, steady-growth jobs – sometimes with average annual earnings greater than $ 100,000 as workers with the same skills.

To read the letter, click here: https://www.tn.gov/content/dam/tn/attorneygeneral/documents/pr/2021/pr21-14-letter.pdf

The letter was cited by Colorado Attorney General Phil Weiser and Oregon Attorney General Ellen Rosenblum, which includes the District of Columbia and the states of Connecticut, Hawaii, Idaho, Illinois, Iowa, Kansas, Maine, Maryland, Massachusetts, This included Minnesota, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, Pennsylvania, Tennessee, Vermont, Virginia, Washington, and Wisconsin.

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# 21-14: AG Slatery urges the US Department of Education to provide loans to some ITT tech students