June 14th, 2019 by WCBC Radio
West Virginia Attorney General Patrick Morrisey joined a coalition of 44 attorneys general in reaching a $168 million settlement with a loan company linked to ITT Tech, a now-bankrupt for-profit college.
The settlement, which involves Student CU Connect CUSO LLC, erases $508,026 in student loan debt for 61 former students of ITT Tech in West Virginia. Nationally, more than $168 million in debt will be relieved for 18,664 students.
Student CU Connect CUSO offered loans to finance students’ tuition at ITT Tech.
“This settlement demonstrates our office’s commitment to protect consumers and stop unfair loan practices,” Attorney General Morrisey said. “Those students who put forth time and effort toward a degree – and ultimately a career – only to have it interrupted in this manner deserve the relief they will receive.”
The West Virginia Attorney General’s Office played an integral role assisting approximately a dozen nursing students who had their licensing jeopardized by ITT Tech's abrupt closure in Cabell County.
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