Settlement Provides Loan Relief to Former ITT Tech Students


Millions of dollars in loan debt will be wiped out through a new settlement with a company associated with ITT Technical Institute.

The Georgia attorney general’s office announced the multi-state settlement with Student CU Connect, LLC on Thursday morning. The company, also known as “CUSO”, only provided loans to ITT Tech students. Several attorneys general alleged that ITT pressured students to accept high-interest loans, without disclosing all of the terms. These students continued to owe this money even after ITT Tech closed in September 2016.

In Georgia, the settlement impacts 471 former ITT Tech students.

“We think this is an important settlement that sends a strong message and we are very happy that it relieves those nearly 500 students in Georgia who were just trying to move forward with their opportunities. studies, ”said Shawn Conroy with the Consumer Protection Division of Georgia AG.

In Georgia, total debt relief is over $ 4.1 million and nationally it is over $ 168 million.

The regulations require CUSO to notify all affected students, as well as all credit reporting agencies, of the status of these loans. CUSO must also cease operations.

Conroy said anyone with questions should contact the state’s consumer protection division at 404-651-8600.

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