Former ITT Florida Students To Get $ 24 Million Debt Relief
TALLAHASSEE, Florida – Students who were enrolled on the now-closed ITT Technical Institute campuses in Florida are entitled to more than $ 24 million in student loan cancellations, State Attorney General Ashley Moody said on Wednesday .
Florida’s share in a $ 330 million nationwide settlement follows investigations by several attorneys general into student loans offered by the for-profit school.
The 47 attorneys general and the Consumer Financial Protection Bureau reached an agreement with PEAKS Trust, which managed a private loan program for ITT Tech. According to the agreement, PEAKS admitted to forcing students to take out high-interest loans, agreed to cancel outstanding loans and to end operations.
“I am happy that we were able to obtain debt relief for the former students who are still financially affected by this high pressure loan program,” Moody said in a statement.
ITT Tech filed for bankruptcy and closed its campuses in 2016, including Jacksonville, Fort Lauderdale, Fort Myers, Lake Mary, Miami, St. Petersburg, Tallahassee, and Tampa.
Moody said the students did not have to do anything to receive the relief. The notices will explain their rights under the agreement. Students can direct questions to PEAKS at [email protected] or 866-747-0273, Where the Consumer Financial Protection Bureau at 855-411-2372.
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