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The Biden administration is writing off $37 million of University of Phoenix student loans — and it’s unclear whether that move would leave the University of Idaho on the hook,
Originally published Sept. 21 on IdahoEdNews.org.
The Biden administration is writing off $37 million of University of Phoenix student loans — and it’s unclear whether that move would leave the University of Idaho on the hook.
More than 1,200 University of Phoenix students will have their student loans forgiven after the Education Department found that the for-profit institution offered them “empty promises” about its partnerships with thousands of corporations, the agency announced Wednesday.
The U of I downplayed Wednesday's U.S. Department of Education announcement. But university officials have already said the U of I could be on the hook for $7 million a year, or more, stemming from loan writeoffs.