DES MOINES, Iowa- The Iowa Attorney General's Office has reached a deal to provide more than 1.3 (m) million dollars in debt relief for 143 former I-T-T Tech Students in Iowa.
I-T-T, which had campuses in Des Moines and Cedar Rapids, went bankrupt in 2016, amid investigations into it's use of federal student aid.
The agreement is part of a 44-state, 168-(m) million dollar settlement.
Iowa Attorney Tom Miller says the settlement is with Student CU Connect CUSO, LLC, a credit union service organization that offered loans to finance students’ tuition at ITT Tech, the failed for-profit college. The CUSO Loan program originated approximately $189 million in student loans to ITT students between 2009 and 2011.
“This settlement holds CUSO accountable for its participation with ITT in subjecting students to abusive lending practices,” Miller said. “It also provides relief to Iowans who attended ITT Tech and incurred debts for a questionable education that they could not repay nor discharge.”
(Photo from Channel 13 WHO-TV)