Thousands of Mass. students won’t have to pay student loans


SLATE CLEAN FOR THE ENTIRE STUDENT BODY OF ONE MASSACHUSETTS SCHOOL.>>THREE YEARS AFTER AMERICAN CAREER INSTITUTE WENT BELLY UP AND LOCKED ITS STORES, MANY FORMER STUDENTS SAID THEY WERE STIL STRUGGLING WITH WORTHLESS DEGREES AND MOUNTAINS OF DEBT UNTIL TODAY.>>I WILL NOT HAVE THIS $15,000 DEBT HANGING OVER MY HEAD. I AM SO THANKFUL. THE SENATORS ANNOUNCE THE FEDERAL GOVERNMENT HAS AGREED TO WIPE CLEAN THE LOANS OF ALL 4500 FORMER STUDENTS AT THE FIVE CAMPUSES IN MASSACHUSETTS. SOME WILL GET REFUNDS FOR MONEY THEY HAVE ALREADY PAID.>>THI IS UNPRECEDENTED AND MOST WELCOME AND IS THE RESULT OF A LOT OF HARD WORK. THIS MEANS THE STUDENTS WILL NOT HAVE TO PAY A TOTAL OF $30 MILLION OF FEDERAL GUARANTEED LOANS. WILL THAT MAINE TAXPAYERS WILL HOLD THE BAG?>>I DEPENDS, IT’S THE MONEY THAT ACI WAS RAKING IN. SHE COULD NOT SAY HOW MUCH MONEY HAS BEEN RECOVERED FROM ACI AND THE U.S. DEPARTMENT OF EDUCATION SAID BECAUSE THERE IS NO LETTER OF CREDIT FROM THE EDUCATION APARTMENT CAN RECOVER, THE GOVERNMENT WILL COVER THE COST OF THE LOAN RELIEF WILL . SENATOR WARREN STOP SHIRT OF SAYING THE FEDERAL GOVERNMENT SHOULD STOP PROVIDING LOANS TO STUDENTS AT FOR-PROFIT COLLEGES. SHE SAID THE GOVERNMENT SHOULD

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