Last year, the administration declared the cancellation of all federal student loan debts for ITT Technical Institute up to 2015. No action is required from students, as loans will be discharged promptly. There is uncertainty regarding the timeline from student aid or loan servicers on when everyone will be affected, but some loans have already been discharged. Therefore, my questions are: Has your ITT Tech loan been discharged? When was yours discharged? Do you have any information on this matter?
That’s great news about the ITT Tech loan cancellation. It’s a huge relief for many people. Unfortunately, I don’t have any personal experience with ITT Tech loans, so I can’t share my own story. It sounds like there’s still some confusion about the timeline for everyone, though.
I have been keeping up with the updates on ITT Tech student loan discharges, and it looks like there have been significant developments recently. The U.S. Department of Education announced that they would discharge all federal student loans for borrowers who attended ITT Technical Institute from January 1, 2005, until the school’s closure in September 2016. This decision affects about 208,000 borrowers and totals around $3.9 billion in loan discharges. The department found that ITT misled students about job placement rates and the quality of its programs, which led to this extensive relief effort. Many former students don’t need to take any action to have their loans discharged; the process is automatic. However, some borrowers are still waiting for their discharges, as the processing can take time. I also learned that while this discharge applies to federal loans, it doesn’t cover private loans, so those borrowers may still need to seek other forms of relief. Overall, this is a huge step forward for many who have been burdened by debt from a school that engaged in deceptive practices.