In total, 7,400 students who enrolled in College America’s Colorado campuses between January 1, 2006 and July 1, 2020 will get $130 million in debt relief automatically. Any previous loan payments made to the Education Department will also be reimbursed.
7,400 Enrolled Students in College America Colorado will Receive Automatic Debt Relief. (Photo: CBS News)
Education Department’s Settlement
In a published report released by USA Today, the Education Department decided on a $6 billion settlement that will reimburse the loans of hundreds of thousands of people who were duped by for-profit or similarly predatory colleges. Officials hinted that similar state-federal agreements would be announced soon, which might mean assistance for other duped students as well.
College America closed its doors in 2020. Thousands of its pupils will now get their loans repaid. According to the Department of Education, they are not required to apply. They will be notified.
READ ALSO: 2020 Guide to the Colorado Technical Institute Lawsuit & Student Loan Forgiveness Program
 A published article stated by CBS Colorado, now, thousands of Colorado students will be given a clean slate. Miguel Cardona, the U.S. Secretary of Education, told CBS news Colorado, “What we’re doing is making them whole. But we’re going after bad actors. We’re tightening accountability.”
College America made large promises it couldn’t keep, including tantalizing compensation offers.
READ ALSO: Biden admin canceling $130M in debt for students who it says were ‘ripped off’ by Colorado college
$130 Million in Automatic Debt Relief to be Received by 7,400 Enrolled Students in College America Colorado. (Photo: Yahoo News)
