Let's keep cracking down on these for-profits. I used to drive by both of these Nashville institutions all the time and wonder about them. From The Tennessean.
More than 1,400 former Tennessee students could get a slice of $2.1 million in student loan forgiveness because of a state settlement with Education Management Corp., officials said Monday.
The agreement was announced by Tennessee Attorney General Herbert Slatery and the Tennessee Division of Consumer Affairs. It requires the for-profit education company EDMC to reform its recruiting and enrollment practices, according to a news release from Slatery's office. It is part of a larger national settlement that requires the Pittsburgh-based company to forgive $102.8 million in outstanding debt held by more than 80,000 former students, according to the attorney general.
An average of $1,370 in loan forgiveness is expected for each person affected. According to the company website, EDMC operates two schools in Tennessee, both of which are in Nashville: The Art Institutes of Tennessee and Argosy University.