Biden cancels student loans for those cheated by university

The Biden administration is canceling student loans for 23-hundred borrowers who say they were cheated by a former for-profit college. Seventy-two million dollars in student loans are being canceled by the Education Department. The move helps borrowers who say they were cheated by Ashford University, a former for-profit college that was purchased by the University of Arizona in 2020. The Biden administration wants to recoup the money from the new parent company, which denies any liability. In 2022, a California court found that Ashford frequently lied to students to get them to enroll.