The Biden administration is continuing its mass student loan handouts as it announced another $6 billion that it would be giving to borrowers ahead of the 2024 election.
"Today, my Administration is approving $6.1 billion in student debt cancellation for 317,000 borrowers who attended the Art Institutes," President Biden said Wednesday.
In the statement, the president and Education Secretary Miguel Cardona described the Art Institutes as "predatory" and said the new handouts would help students who were victims of their actions.
"This institution falsified data, knowingly misled students, and cheated borrowers into taking on mountains of debt without leading to promising career prospects at the end of their studies," Biden said.
