ALBUQUERQUE, N.M. (KRQE)- About 250 former ITT Tech students from New Mexico will share $2.3 million in debt relief as part of a multi-state settlement. The settlement is with a loan company, Student CU Connect CUSO LLC, who had around $189 million in student loans to ITT students nationwide.
The Consumer Financial Protection Bureau and 44 states and the District of Columbia alleged the lender provided loans to ITT students knowing that many of them were unaware of the terms and conditions of the loans and they couldn’t afford them. Under the terms, the company must stop collecting on all outstanding loans.
ITT Tech closed in 2016 after filing for bankruptcy.
