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 Jamie Dimon Warns of Imminent Economic Cliff Due to U.S. Debt READ MORE Strong Economy May Delay Fed Rate Cuts Amid Inflation Concerns READ MORE Yahoo Finance Chartbook: 10 Charts That Show the Economic Forces Staving Off Recession READ MORE The REAL Reason the South Lost the Civil War READ MORE Inflation Eases to 2.5%, but Core Prices Remain Sticky READ MORE Add a Comment Cancel replyYour email address will not be published.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