$22.5 Billion In Student Debt Relief Granted To Student Loan Borrowers After Schools And Universities Defrauded Them

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$22.5 billion in student debt relief was granted to millions of student loan borrowers after schools and universities defrauded them.

Student Debt Relief
$22.5 billion in student debt relief was granted to millions of student loan borrowers after schools and universities defrauded them. (Photo: The Columbus Dispatch)

Student Debt Relief Granted to 1.3 Million Student Loan Borrowers Defrauded by Schools and Universities

$22.5 billion in student debt relief was granted to millions of student loan borrowers who have been defrauded and cheated by their schools and universities, wherein the collective student debt relief aimed to return the large amount of relief they should have received from the start because they deserved it.

According to a report published in GO Banking Rates, the affected loan borrowers, who have attended the University of Phoenix and Ashford University, which were accused of defrauding students, already received student debt relief and some also had their debt forgiven after being defrauded besides the student debt relief, which they all deserved.

After granting the student debt relief, lawmakers questioned the eligibility of the two universities and other institutions involved in defrauding their students using student debt, claiming that they should not be included in the program despite granting student debt relief to affected students.

READ ALSO: $17.5 Billion Victim Relief Fund Administered To 200 Million Defrauded CFPB Consumers Following Financial Protection Law Violations

Schools and Universities to be Held Accountable for Defrauding Loan Borrowers Despite Granting Student Debt Relief

Despite granting billions of student debt relief, lawmakers demanded that schools and universities be held accountable for defrauding and cheating on loan borrowers instead of providing relief, Business Insider reported.

Lawmakers claimed that the student debt relief granted was not enough to let the schools and universities go like nothing happened as they should receive strong consequences for their actions and be responsible for the losses.

READ ALSO: Student Loan Borrowers To Expect Garnishment Of Social Security Benefits Following Student Loan Payments Resumption After 3-Year Hiatus

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