US government cancels loans for former Ashford University students and plans to recoup costs

WASHINGTON (AP) — The Biden administration is canceling $72 million in student loans for 2,300 borrowers who say they were cheated by Ashford University, a former for-profit college that was purchased by the University of Arizona in 2020. The Education Department says it’ll seek to recoup the money from the University of Arizona. The university denies any liability for Ashford’s actions and will be “assessing its options.” Before its sale, Ashford was an online for-profit college that enrolled more than 100,000 students. President Joe Biden said his administration “won’t stand for colleges taking advantage of hardworking students and borrowers.”