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The Biden administration on Wednesday said it will cancel $6 billion in student loans for people who attended the Art Institutes, a system of for-profit colleges that closed the last of its ...
People walk past the Art Institute of Philadelphia in 2015. The Biden administration on Wednesday said it will cancel $6 billion in student loans for people who attended the Art Institutes, a ...
The Art Institutes (AI) were a private for-profit system of art schools in the United States. [2] The Art Institutes offered programs at the certificate, associate's, bachelors, and master's levels. By 2012, there were 50 campuses with roughly 80,000 enrolled students. [3]
The Education Department will automatically erase loans for 317,000 people who attended any Art Institute campus between Jan. 1, 2004, and Oct. 16, 2017. The department says it's taking action after reviewing evidence from the attorneys general of Massachusetts, Iowa and Pennsylvania, which previously investigated complaints of fraud and sued ...
The Art Institutes system is a subsidiary of Education Management Corporation (EDMC), which is headquartered in Pittsburgh.EDMC has been the subject of several lawsuits and investigations alleging that the company made misleading claims in its efforts to recruit students; [4] [5] the company agreed to pay nearly $96 million, and change its student recruitment methods, to settle the civil ...
The Art Institutes, of which there were approximately 50 locations in the U.S. and Canada, offered programs in design, fashion, media and culinary arts. [16] In 2017, Education Management Corporation sold the existing Art Institutes to The Dream Center Foundation, a Los Angeles-based Pentecostal organization.
The Biden administration is erasing $6.1 billion in federal student debt for 317,000 former attendees of The Art Institutes, a defunct for-profit chain of art colleges, officials announced Wednesday.
In 2017, Education Management Corporation reported that it had sold the Art Institute of Pittsburgh and the other existing Art Institutes to Dream Center Education Holdings (in turn a division of The Dream Center, a Los Angeles-based Pentecostal non-profit 501(c)(3) established in 1994). [1] [18] [19] The sale was completed in October 2017. [2]