Biden Administration Cancels $6.1 Billion in Student Debt for 317,000 Amid Fraud Claims The Biden administration has announced the forgiveness of $6.1 billion in student debt for 317,000 former students of The Art Institutes, following the chain’s closure last fall amid fraud allegations. This move is part of President Biden’s broader strategy to address the nation’s $1.7 trillion student debt, especially after broader relief efforts were hindered by the Supreme Court last year. The Art Institutes were accused of misrepresenting employment rates and salary data, leaving many graduates with significant debt and few tangible benefits, according to U.S. Secretary of Education Miguel Cardona. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Fed's Barr: Disappointing Inflation Data Delays Rate Cuts READ MORE Five Commodity Trends Shaping Global Markets READ MORE Crucial Week Ahead: Key Reports to Influence Fed's Rate Policy Decisions READ MORE Gold Hits New Peak: Why It's Just Getting Started READ MORE How Much Gold and Silver is Needed for Financial Crises READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment