79,000 Westwood College students will get their loans discharged

The U.S. Department of Education announced Tuesday it is discharging the loans taken out by 79,000 students who attended Westwood College.

The U.S. Department of Education announced Tuesday it is discharging the loans taken out by 79,000 students who attended Westwood College.

The for-profit Westwood and its parent company Alta Colleges Inc. first settled fraud charges in 2009. In 2016, Westwood officially shut down. The department had already approved $130 million in debt discharges for approximately 4,000 former students prior to Tuesday's announcement.

The latest discharges stem from findings by the department in the last two years, including that Westwood "routinely misled prospective students by grossly misrepresenting that its credentials would benefit their career prospects and earning potential," the department said.

Westwood, which operated in five states, falsely promised prospective students that they would be employed in their field "within six months after graduation and that a Westwood degree would make them 'employable for the rest of [their lives],'" the department said.

Faced with an unknown number of applications for loan discharges under the federal borrower-defense rule, which states students can seek debt forgiveness if they believe they were defrauded by their school, the department concluded that anyone with a loan taken out to attend Westwood College was entitled to a full discharge.

https://www.nbcnews.com/business/consumer/student-loan-forgiveness-westwood-college-loans-will-be-discharged-rcna45484


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