The Biden administration announced Wednesday it would cancel nearly $37 million in student debt for more than 1,200 students who attended the University of Phoenix.
The borrower defense program allows borrowers who can prove they've been misled or defrauded by their schools to get their federal student loans voided.
"The University of Phoenix brazenly deceived prospective students with false ads to get them to enroll," said Richard Cordray, the federal student aid chief operating officer.
The FTC had obtained internal emails, as well as advertisement materials and recorded phone calls with prospective Phoenix students.
"Phoenix management was aware that the corporate relationships the school claimed to have did not exist," the Education Department said.
Persons:
Biden, they've, University of Phoenix brazenly, Richard Cordray, Goldman Sachs, ‘
Organizations:
University of Phoenix Chicago, University of Phoenix, U.S . Department of Education, University, Phoenix's, Fortune, Education Department, Finance, Federal Reserve, Federal Trade Commission, FTC, Phoenix
Locations:
Schaumburg , Illinois