Biden Admin Cancels $130 Million in Loans for ‘CollegeAmerica’ Students

The Biden administration will cancel $130 million in federal student loans for 7,400 borrowers who attended a now-defunct college in Colorado, the Education Department said on Tuesday.

President Joe Biden greets lawmakers and their families during a Congressional picnic at the South Lawn of the White House in Washington on July 19, 2023. Madalina Vasiliu/The Epoch Times

The Biden administration will cancel $130 million in federal student loans for 7,400 borrowers who attended a now-defunct college in Colorado, the Education Department said on Tuesday.

The cancellation applies to borrowers who attended Colorado-based locations of CollegeAmerica between Jan. 1, 2006, and July 1, 2020, according to the agency. The discharge only applies to federal student loans, not private loans or commercial FFEL loans.