Daily Business Briefing

Sept. 3, 2021, 8:16 a.m. ET

Sept. 3, 2021, 8:16 a.m. ET

Credit…Jahi Chikwendiu/The Washington Post, via Getty Images

In a move that will wipe out $1.1 billion in debt owed by 115,000 borrowers, the Education Department said on Thursday that it would forgive the federal loans of students who attended ITT Technical Institute but left after March 2008 without completing a degree.

The decision is the latest action by the agency to use relief programs that languished during the Trump administration to eliminate the student loans of some of the country’s most distressed borrowers. ITT, a large for-profit chain accused by federal and state officials of fraudulently luring students with inflated claims about its graduates’…

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