Biden Cancels $4.5 Billion in Student Loans for 261,000 Defrauded Borrowers

The forgiveness targets former Ashford University students misled by deceptive practices, marking one of Biden's final actions in office.

The Biden administration approved $4.5 billion in student loan forgiveness for 261,000 borrowers who attended Ashford University between 2009 and 2020.
Investigations found Ashford University engaged in widespread misrepresentation about costs, financial aid, degree timelines, and post-graduation opportunities.
The relief stems from a legal ruling that upheld findings of fraudulent practices by Ashford and its parent company, Zovio, Inc.
This action increases total student debt relief under Biden's presidency to over $200 billion, benefiting more than 5 million borrowers.
Borrowers will be notified by email and do not need to take additional steps to have their loans discharged.