From Day One of my Administration, I promised to rebuild the middle class, and to fight for hardworking American families.
Today, we are taking another significant step to deliver on that promise by canceling $130 million in debt for 7,400 student borrowers who attended CollegeAmerica in Colorado. These borrowers were lied to, ripped off, and saddled with mountains of debt.
While my predecessor looked the other way when colleges defrauded students and borrowers – I promised to take this on directly, and provide borrowers with the relief they need and deserve. Already under my Administration, we’ve approved $14.7 billion in relief for 1.1 million borrowers whose colleges took advantage of them or closed abruptly – like those students who attended CollegeAmerica in Colorado. And in total, we have approved $116 billion in debt relief for over 3.4 million Americans.
As long as I am president, we will never stop fighting to deliver relief to borrowers, hold bad actors accountable, and bring the promise of college to more Americans.
###