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ITT Technical Institutes Shuts Down After 50 Years in Operation

Source: The Washington Post / Getty

The Department of Education announced on Tuesday that $3.9 billion in student debt will be canceled for students of ITT Technical Institute.

The debt cancellation will wipe out funds owed by the 208 thousand students who attended the for-profit institute.

ITT Technical Institute closed its doors in September 2016.

“It is time for student borrowers to stop shouldering the burden from ITT’s years of lies and false promises,” Secretary of Education Miguel Cardona said in a statement.

Do you have any student debt? Do you think student debt should be canceled?

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