(Lincoln, NE) -- Over a thousand Nebraskans are having their student loans wiped out.
Nebraska Attorney General Doug Peterson's Office announced this week that the Department of Education will discharge all remaining federal student loans for borrowers who attended ITT Technical Institute. Peterson's office says that 1,340 Nebraskans who attended ITT will have their outstanding federal student loans cancelled, totaling approximately $25,100,000 in student loan debt cancellation.
In all, the U.S. Department of Education will discharge nearly $3.9 billion in full loan discharges to 208,000 borrowers who attended ITT from January 2005 to the school’s closure in September 2016. At this time, these borrowers do not have to take any action – their federal student loans will be automatically cancelled. The process will be administered by the U.S. Department of Education.