450,000 student loan borrowers may get debt forgiven in $23B settlement

A $23 billion class-action settlement with the Department of Education could forgive debt for 450,000 student loan borrowers. The lawsuit, initiated in 2019 by an advocacy group, accused dozens of now-closed schools of institutional misconduct, including misleading students about career outcomes and credit transferability. A federal appeals court denied a Trump administration request to delay the settlement, potentially allowing 200,000 more borrowers to qualify if they applied by Nov. 15, 2022.