From Day One of my Administration, I promised to rebuild the middle class, and to fight for hardworking American families.
Today, we are taking another significant step to deliver on that promise by canceling $130 million in debt for 7,400 student borrowers who attended CollegeAmerica in Colorado. These borrowers were lied to, ripped off, and saddled with mountains of debt.
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While my predecessor looked the other way when colleges defrauded students and borrowers - I promised to take this on directly, and provide borrowers with the relief they need and deserve. Already under my Administration, we've approved $14.7 billion in relief for 1.1 million borrowers whose colleges took advantage of them or closed abruptly - like those students who attended CollegeAmerica in Colorado. And in total, we have approved $116 billion in debt relief for over 3.4 million Americans.
As long as I am president, we will never stop fighting to deliver relief to borrowers, hold bad actors accountable, and bring the promise of college to more Americans.
