December 5, 2018- Just last week, a federal judge approved a settlement confirming that 750,000 former students were cheated by the company and cancelling every dollar of student debt held by the for-profit-school.
ITT students awarded and Debt forgiven
The Bankruptcy Court in Indianapolis recognized a $1.5 billion claim for ITT students who attended the school between 2006 and 2016 and were subject to systematic unfair and deceptive practices. It was alleged that ITT routinely lied to hundreds of thousands of students and targeted people who were eligible for federal loans and grants. Over the last decade, ITT took in over $7 billion in student aid, the majority of which came in the form of federal student loans.
This major victory for ITT students cancels all student debts (more than $500 million), and returns $3 million that was paid by students since the company filed for bankruptcy in 2016. Now it is up to the Department of Education to follow suit and cancel all federal loans of former ITT students.
Misled by your student loan comPany?
Now, Kohn, Swift & Graf is looking to seek justice for students at other colleges and universities who were deceived, misled, and affected by massive fraud regarding student loans. We are continuing to investigate other schools and loan services that have engaged or are currently engaging in these predatory practices. For example, we are investigating the student loan servicing company, Navient, for allegedly deceiving borrowers into more costly repayment plans. View the page here.
If you or someone you know is a student borrower and has been harmed by predatory practices regarding student loans, please contact us. All consultations are free of charge. You may be eligible to be included in a Class Action Lawsuit.
Kohn, Swift & Graf is a national leader in class actions, including complex consumer litigation. With experienced consumer class action attorneys and a competent support staff, our firm strives to provide the highest quality of service to our clients. We treat each case with careful attention to ensure that consumers get the justice they deserve. KS&G is centrally located in Philadelphia, PA. We handle cases nationwide.