A settlement between a group of for-profit colleges and 48 states, as well as D.C., means 180,000 former students won't have to pay back their loans...totaling almost half a billion dollars.
Career Education Corporation has been under investigation by multiple state attorneys general since 2014 for allegations of using deceptive recruiting tactics. The AGs involved in the case have cited claims that the company misled students about their graduate job prospects as well as program costs.
It averages out to about $2,700 per student.
The company's CEO, Todd Nelson, called the resolution of the investigation an "important milestone for the company."