Facing lawsuit, DeVos erases student loans for 1,500

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Facing lawsuit, DeVos erases student loans for 1,500Facing 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. Students who attended another 24 schools owned by the same company will be able to get their loans erased if they enrolled after June 29, 2018.