Biden cancels $6.1 billion in loans for ex-Art Institutes students

14,386
0
Published 2024-05-01
The Biden administration announced its latest round of student debt relief Wednesday. More than $6 billion will be canceled for 317,000 borrowers who enrolled at any Art Institutes campus between 2004 and 2017. CBS News reporter Haley Ott has more.

CBS News 24/7 is the premier anchored streaming news service from CBS News and Stations that is available free to everyone with access to the internet and is the destination for breaking news, live events, original reporting and storytelling, and programs from CBS News and Stations' top anchors and correspondents working locally, nationally and around the globe. It is available on more than 30 platforms across mobile, desktop and connected TVs for free, as well as CBSNews.com and Paramount+ and live in 91 countries.

See more: cbsnews.com/the-daily-report/
Subscribe to the CBS News YouTube channel: youtube.com/cbsnews
Watch CBS News: cbsnews.com/live/
Download the CBS News app: cbsnews.com/mobile/
Follow CBS News on Instagram: instagram.com/cbsnews/
Like CBS News on Facebook: facebook.com/cbsnews
Follow CBS News on Twitter: twitter.com/cbsnews
Subscribe to our newsletters: cbsnews.com/newsletters/
Try Paramount+ free: paramountplus.com/?ftag=PPM-05-10aeh8h

For video licensing inquiries, contact: [email protected]

All Comments (21)
  • @ScribbleNuts
    I went to the Art Institutes. The Art Institutes were a scam school. Their lessons were out of date and teachers told us to watch Youtube to learn, they even forced students to grade other students work or they would be failed. Their employment statistics were outright lies and earning potential was straight lies. Their counselors were salesmen, not people who cared. They 100% deserved to have their schools closed down and everyone's payments refunded. They were sued multiple times for years. Our government, both parties, knew this garbage was going on for a long time and never did a damn thing about it.
  • @oceantransistor
    All education should be free and high quality. This nation needs it.
  • @chriszenko3598
    I’m sure the recent polls have something to do with this
  • I was one of these students. I felt scammed but was still paying. Then I got my email yesterday. I’m so grateful!!
  • @darrellwertz6380
    So the feds decided art degrees should be free... What about everybody else with college debt.... sounds unfair and unconstitutional.
  • @uh1yssuh
    Really disappointing there was no mention of activism. Not even one sentence mentioning Sweet v Cardona, the Debt Collective, or any history at all that went into why these loans are being cancelled.
  • @bryanpadilla4632
    Damn i shoulda went to a for profit art school and studied underwater basket weaving
  • @LDS_2023
    Another one for the tax payer tab. This president is a joke.
  • @jcas2450
    I'd rather that money go to lowering child care costs
  • @PJ-gx3ji
    And yet they still can't come up with money for the wall.
  • @Katsnacks
    What about the Academy of arts that school has been shady as A.I. I’m not paying those student loans!
  • @Mr.Earth01
    They were predatory! I’m with Biden on this one!
  • @Nagroddy
    How about student loan forgiveness for over worked underpaid mental health therapists?
  • @leizee1224
    Who the hell is the supreme Court to decide what amount of money is too much or too little for a policy decision. THEY need to stay in their own lane.
  • In Mexico 🇲🇽 and other countries, either Europe college is free ,I do not understand how this happens here in the US
  • @pyromethious
    If we got back to taxing the top bracket again, then nobody would raise an eyebrow on any of this as we'd be so far in the black that we'd actually look like we're doing something right
  • @chrissharkey9644
    Why don’t we cancel the way over inflated cost of college by guaranteeing the government backed amount to $25k a year the college wound cost so much!