00:00It's Benzinga bringing Wall Street to Main Street.
00:02The Biden administration announced 4.5 billion dollars in federal student loan forgiveness
00:07for 260,000 borrowers who attended Ashford University between 2009 and 2020.
00:12The relief stems from a California Department of Justice lawsuit
00:16against Ashford and its parent company, Zovio Inc., alleging deceptive practices.
00:21Federal officials say Ashford's recruiters misled students,
00:24leading to wasted time and unmanageable debt for unusable degrees.
00:28In 2022, California secured a 20 million dollar penalty against Ashford and Zovio.
00:33For all things money, visit Benzinga.com slash GSTV.
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