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Over 1,300 Minnesota students who attended ITT Technical Institute will have their federal student loans forgiven and cancelled.

Students who attended the college between 2005 and 2016 will have their debts cancelled, the Biden Administration announced this week.

During that time, the ITT Technical Institute went bankrupt after students claimed the college was trapping them in large amounts of debt they would be unable to repay, as previously reported by the New York Times.

After the for-profit school ceased to exist, students were left with worthless degrees and large amounts of debts after they were "promised high-paying jobs after graduation."

In a release from the Minnesota Attorney's General Office, a total of $26.3 million is being forgiven between 1,380 students affected in the state. Overall, $3.9 billion is being forgiven around the country.

"This is $26 million that Minnesotans now don’t have to worry about repaying. I hope it allows these former students to begin affording their lives again,” Attorney General Keith Ellison said in a statement Wednesday.

The Biden Administration authorized the move after a bipartisan investigation was undertaken by state attorneys general in 2021. 

More student debt was canceled in June, when the Biden Administration cancelled nearly $6 billion for students who attended Corinthian Colleges before they collapsed in 2015.

Biden still has not said whether his administration will extend the federal student loan payment pause which began at the beginning of the COVID-19 pandemic in March 2020. It was last extended in April but the deadline is Aug. 31.

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