In early May 2024 the US Department of Education, under Secretary Miguel Cardona, approved more than $6.1 billion in automatic borrower-defense loan discharges for roughly 317,000 borrowers who attended any Art Institutes campus between 2004 and 2017, after finding the chain and its parent company made pervasive misrepresentations about graduate employment rates, salaries and career services.
In early May 2024 the US Department of Education, under Secretary Miguel Cardona, approved more than $6.1 billion in automatic borrower-defense loan discharges for roughly 317,000 borrowers who attended any Art Institutes campus between 2004 and 2017, after finding the chain and its parent company made pervasive misrepresentations about graduate employment rates, salaries and career services.
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Public absorption of $6.1 billion in fraudulently induced student debt restores affected borrowers' financial standing and reflects federal funding deployed to remedy education-sector harm.
