Settlement Between For-Profit College Borrowers, US Finalized

The Department of Education will discharge some federal loans and take other steps as part of a class settlement with student loan borrowers who say for-profit colleges misled them about job potential, a federal judge in California ruled.

• Complaint alleged the Education Department under the Trump Administration intentionally stopped making decisions on students’ requests to cancel their federal loans based on their schools’ misconduct.
• Borrowers in June asked a federal judge in California to sign off on a new settlement requiring some federal loan discharges, refunds, and credit repair.
• US District Judge William Alsup granted final approval of the deal ...