Roughly 1,200 former University of Phoenix students are eligible for the relief
More than 1,200 student-loan borrowers who attended the University of Phoenix will have nearly $37 million in student debt canceled, the Department of Education announced Wednesday.
The Department of Education said it intends to start the process necessary to recoup the funds associated with the discharge of the student debt from the University of Phoenix. Over the past few years, the Department has faced pressure to hold companies and their leadership accountable in cases where schools’s conduct resulted in federal student loans of former students being discharged.
The University of Phoenix, which mostly offers courses online, did not immediately respond to a request for comment on the Department’s announcement. Borrowers who qualify for the relief announced Wednesday won’t have to take any action. By early October, the Department will notify them that their borrower defense applications have been approved, the agency said. Any payments borrowers made on the loans will also be refunded.
The discharges announced Wednesday are based on the agency’s findings surrounding the way the University of Phoenix portrayed its relationships with corporate partners to prospective students. The Department found that the University of Phoenix’s “Let’s Get to Work” advertising campaign as well as recruitment calls and meetings led prospective students to believe that attending the school would give them a leg up in hiring at major employers, like Microsoft MSFT, -2.35% and AT&T T, +2.30%.
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