Facing lawsuit, DeVos erases student loans for 1,500

FILE - In this June 5, 2018, file photo, Education Secretary Betsy DeVos testifies during a Senate Subcommittee on Labor, Health and Human Services, Education, and Related Agencies Appropriations in Washington. Facing a federal lawsuit and mounting pressure to act, Education Secretary Betsy DeVos on Friday, Nov. 8, 2019, said she will forgive loans for more than 1,500 borrowers who attended a pair of for-profit colleges that shut down last year.

Facing a federal lawsuit and mounting criticism, Education Secretary Betsy DeVos on Friday said she will forgive certain student loans for more than 1,500 borrowers who attended a pair of for-profit colleges that shut down last year.

Students who attended the Art Institute of Colorado and the Illinois Institute of Art will not have to repay federal student loans borrowed between Jan. 20, 2018, through the end of last year, DeVos said, although they will still be responsible for any previous loans. In all, about $11 million will be automatically canceled.

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