4 sources·Politics

Biden Administration Forgives $4.5 Billion in Student Loans for Former Ashford University Students

The Biden administration erases loans for 261,000 borrowers from Ashford University, citing deceptive practices that misled students about costs and outcomes.

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  1. Biden forgives $4.5 billion for 261,000 borrowers who attended Ashford University

    The Biden administration's decision to forgive $4.5 billion in student debt for Ashford University borrowers underscores a significant stance against the deceptive practices pervasive in the for-profit education sector.

    Biden forgives $4.5 billion for 261,000 borrowers who attended Ashford University

    CNBCCNBC·2M
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    Center
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  2. Biden forgives $4.5B for 261,000 borrowers in final student loan action

    The Biden administration's decisive action to forgive $4.5 billion in student loans for over 261,000 borrowers reflects a significant commitment to rectifying the injustices faced by students misled by for-profit institutions.

    Biden forgives $4.5B for 261,000 borrowers in final student loan action

    The HillThe Hill·2M
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  3. Biden administration cancels loans for 260,000 former Ashford University students

    The Biden administration's bold move to forgive loans for over 260,000 former Ashford University students underscores its commitment to addressing the injustices perpetrated by for-profit colleges, despite facing significant political opposition and legal obstacles.

    Biden administration cancels loans for 260,000 former Ashford University students

    Associated PressAssociated Press·2M
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  4. 261,000 more student-loan borrowers get $4.5 billion in debt cancellation in Biden's final days in office

    Biden's latest move to grant $4.5 billion in debt relief is a crucial and timely effort to rectify the damage done to countless students misled by Ashford University, emphasizing his administration's commitment to addressing educational injustices before he leaves office.

    261,000 more student-loan borrowers get $4.5 billion in debt cancellation in Biden's final days in office

    Business InsiderBusiness Insider·2M
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  1. CNBC
  2. The Hill
  3. Associated Press
  4. Business Insider
Jan 15th, 2025, 7:30 PM ET

Summary

A summary of the key points of this story verified across multiple sources.

In a significant move, the Biden administration has announced the forgiveness of $4.5 billion in student loans for over 261,000 former students of the now-defunct Ashford University. This action follows judicial findings of widespread deception by the institution regarding costs, accreditation, and graduation rates. The relief applies to borrowings made between March 2009 and April 2020, affecting those who did not individually apply for debt relief. Overall, the Biden administration has forgiven over $183 billion in student loans, marking a historic level of debt relief for affected borrowers.

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