ITT Debt Relief
Hartford, CT) — Attorney General William Tong has secured an agreement to obtain $292,874 in debt relief for former ITT Tech students in Connecticut as part of a settlement with 48 attorneys general and the federal Consumer Financial Protection Bureau. Nationally, the settlement will result in debt relief of about $330 million for former students of the failed for-profit college. The agreement affects about 43,000 loans. The settlement is with PEAKS Trust, a private loan program run by ITT and affiliated with Deutsche Bank entities. ITT filed bankruptcy in 2016 amid investigations by state attorneys general and following action by the U.S. Department of Education to restrict ITT’s access to federal student aid. “This settlement holds PEAKS Trust accountable for its predatory lending…
